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13:40
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Originally posted by fup:
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it's been four months since the due diligence was completed by the consortium. the announcement on 24 January 2022 stated:ASM’s Managing Director David Woodall said the completion of due diligence to the satisfaction of the Investing Partnership had taken place in parallel with continued progress on the remaining formal binding terms of the consortium’s investment. The Investing Partnership will arrange investment into the Consortium Fund which is expected to include strategic investment from major Korean industrial companies. from my reading of the quarterly, binding terms aren't even agreed yet, ASM are assessing its options and we are 5 months behind schedule for the actual investment and offtake to have occurred. if "progress on the remaining formal binding terms" were running in parallel since january when the due diligence was completed, that means they have been negotiating for maybe over half a year with no result on whatever is not agreed. hopefully ASM doesn't need to restart the negotiation/due diligence process with a new investor if they can't come to an agreement. people blaming shorters for the price decline are deluded when this is the real risk.
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Wrt to your third paragraph and the following section of it:Maybe ASM have a better deal in front of them now?
(20min delay)