NextInvestors, page-32

Has anyone done an analysis of the "Summary of Binding Term Sheet" ?
Interesting reading too much to write about here, but some points of interest:

It is not a final conclusion that PRL will retain 50%of the SPV if for some reasons PRL comes to hold less than 47.5% ownership it would affect the composition of the Board.

Financing via loans in proportion of their respective ownership at 5% interest rate above the BBSY and capitalised.

Shareholders Agreement (SHA) to be executed within 8 weeks of the Term Sheet signature (signed 28 August 2022).

In the Roles and Contributions sections: Total Eren holds a strong hand whilst PRL has a supportive role of leading the obtention of long term rights and coordinate the development, etc.

The Term Sheet will terminate when the SHA is executed if not 6 months after the signature date. Until then nothing concrete for the SP.
The SP should move when the Special Purpose Vehicle SPV (SHA) comes into effect.

It will be interesting to see what name the SPV (new entity) will be given.