png weapons deal progresses, page-3

Re PNG, from Terry O'Dwyer's recent Chairman's address:

"The situation in PNG is fluid but we EXPECT to have it finalised in due course."

Re the notes:

"The company has commenced discussions with the majority owner of the senior secured notes due for repayment by September this year, with a view to extending the maturity of the instruments. More detail WILL BE MADE AVAILABLE WHEN the company and secured noteholders HAVE REACHED an in-principal agreement.

"An extension of the notes may mean your board has to convene another general meeting in the NEAR TERM, but THIS EXTENSION WILL BE HELPFUL as we continue the hunt for the right investor."

Some interesting use of language. Can't wait 'til the notes ARE extended....that will be a huge vote of confidence.