icn--ade--bpt, page-4

Could someone please explain the ADE-ICN-BPT relationship.

When I read last BPT preso they don't mention ICN or ADE, just state other parties basically.

The ICN preso doesn't say anything about ADE, but does confirm farm in negotiations with BPT.

The ADE preso only mentions BPT

Very confusing...

Furthermore, I cannot find out how ADE got their free carry holdings. Not mentioned.

I see that one of the gripes that ICN makes is the BPT included a 3rd party. I just wonder if that is ADE?

All very confusing.