refinancing not going ahead, page-9

Optimix, you may spell it correctly but standing on a chair will not raise your low IQ as reflected by your failure to understand what conditions precedent are.
Quoting Optimix: “And, despite you opinion, the IFCA proposal has nothing to do with Chemeq's conditions precedent, apart from delaying getting on with due diligence and the EGM. There is no need for IFCA to change the terms of the offer at all. End of Quote

Let me explain so that Optimix can also understand. The IFCA proposal has everything to do with CMQ or any other party satisfying the condition precedent. When any condition precedent is not satisfied, it meant IFCA is no longer bound by the proposal. In simple language, IFCA no longer has to honor the terms of the original proposal and as such the original deal is off the table. And quoting your dream CEO : “IFCA has not put forward any new proposal”.

IFCA discussion with the bondholders came to zilch probably because the bondholders doubt IFCA has the money or they could not agree on the amount of money to pay the bondholders. In any case in the likely event the appeal goes against CMQ, IFCA will be buying the company from the liquidators, that is assuming IFCA is genuine notwithstanding the highly suspicious dead proposal.

Cheers

PS: It was too challenging for Optimix to realise ST is short-term and LT is long-term!