The conditions are in the announcement. 1. in progress review of...

The conditions are in the announcement.
1. in progress review of accounts given to the financiers
2. implement governance matters identified by the Lancaster report conducted around June/July
3. appoint two interdependent directors - approved by the financiers - Mr Sage already appointed

it would seem the outstanding is in hand; that is implement new internal framework (probably renewed focus on appropriate risk management) and appoint another independent director.

Nothing to sinister in any of that, I feel. The waiver could hardly be unconditional or there would not have been a case to answer in the first place.