Is this the moment we have been waiting for??, page-11

My more considered re-reading of the announcement suggests to me that there are only 2 possibilities:
a) This announcement/TH is just relating to the R&D return (but it must be sizeable to warrant a TH...) or
b) Their grasp of English grammar is very poor...

To paraphrase what they appear to have written - "a significant transaction, [which relates to] an expected tax refund, [of an amount which is] material to APG..."

If they mean "a significant transaction, [AND] an expected tax refund", I shall have to send Mr Gaston a primer on English Grammar (perhaps Mr Gaston ["Monsieur Gaston..."?] is of French heritage and English is his second language?)

Either way, how hard is it to write something unambiguous? Unless the intention *is* to be ambiguous of course...

sasa
(nonetheless pleased that this might be worth a 7-figure sum to our struggling little baby, allowing us to fight on a little longer in pursuit of "The Big Deal")