in reply to your first point regarding the sunset date for the...

in reply to your first point regarding the sunset date for the bank license investment.

this makes perfect sense, large capital investors are committing to a timeframe that they are happy to leave the money in the bank until the license is granted.

this doesn’t mean I one way or another nov is more or less likely to be awarded the banking license.

if the license is for some unusual reason delayed in November, they are happy to wait until February at the latest.

the apra radi license is independently reviewed prior to being awarded. The process has proven to be long and difficult to predict in the past.

I would note that apra is giving one licence every two months at this stage, if NOV isn’t next in line with maybe a Christmas break the next license would be awarded in February.

As NOV has indicated the licence is expected in November, I take this as th believe they are next in line. Whether or not apra directly discloses this is another point. A few extra months is just insurance.