Comment on the NBR article also indicated that the shares help by PVL as nominee for other investors is also going to be escrowed, so I don't think that any transfer would be allows by the ASX.
I also think most of the money owed to PVL by CLI was supposed to be converted into a convertible note and then into equity, so doubt that they will get much cash back through that avenue.
As for services going forward the good thing for CLI is that they have funds to properly fund the business so will not be reliant on "friendly" terms etc. I also think the directors will have to be ultra cautious of using PVL because of the potential conflicts.
The issue remains for PVL where will it find funds to fund operating costs. The assests they own don't look like they can be liquidated in the short term very easily. So the options appear to be debt (maybe secured over Crop Logic) or from an equity raise.
PVL Price at posting:
30.0¢ Sentiment: None Disclosure: Not Held
