Update on regulatory approvals The Consortium has also informed Origin that the regulatory approvals from the Foreign Investment Review Board (FIRB), the National Offshore Petroleum Titles Administrator (NOPTA), and Spanish foreign investment approval, remain outstanding. These approvals were expected prior to the Scheme Meeting and are conditions to the Scheme under the Scheme Implementation Deed (SID) dated 27 March 2023, which are required to be satisfied by 8.00am on the Second Court Date (currently scheduled for 27 November 2023). 3 Any potential future dividend declared under the Alternative Transaction would be subject to Board determination at that time. 3 The Consortium has advised Origin that it expects to receive these outstanding regulatory approvals by early December 2023 and is not aware of any reason why these approvals would not be obtained. Further details regarding the conditions precedent to the Scheme can be found in clause 3.1 of the SID and section 4.6 of the Scheme Booklet. Implementation of the Scheme remains subject to satisfaction of other conditions as previously announced, including Origin shareholder approval at the Scheme Meeting, Court approval, and other conditions precedent contained in clause 3.1 of the SID.
Just copied the above from ORIGIN's latest release. Relates to point 12 OP.
Could the ORIGIN board be giving the CONSORTIUM more time to succeed?
Surely the take over never had a chance to get over the line due to no approvals?
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