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50.5¢ leo lithium limited

News: LLL Ganfeng Lithium's Unit To Buy 40% Stake In Mali Lithium, page-100

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Kikker1959

10,693 Posts.

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08/05/24

01:11

Post #: 73714536
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Originally posted by chrisman ↑

6. Main terms of the agreement
1. The total consideration for the acquisition of 40% equity of Mali Lithium is US$342.7 million. The company will pay the deposit to Leo Lithium within ten working days after the signing of the equity transfer agreement US$10.5 million; the company will pay the first-phase acquisition payment of US$161 million within ten working days after all prerequisites are met (or waived), and the remaining second-phase acquisition payment of US$171.2 million will be paid before June 30, 2025;

2. Reasonable interest should be paid on the second-phase acquisition payment, and the interest calculation period is from the actual payment date of the first-phase acquisition payment to the actual payment date of the second-phase acquisition payment.

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You need to wait 14 months for the second half. There is no way that holders will get much funds. Management will want to keep themselves employed and make some other crappy deal along the way.

LLL Price at posting: 50.5¢ Sentiment: Sell Disclosure: Not Held
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