Having put many such deals like this together, I can sympathise with John Young, for the buyers [if they are having their contracts used as debt collateral] would wish for some THR equity. This would require approval from [say] three boards of directors in Japan--quite a long drawn out procedure].Then, all of this need bank funds which in turn would not be forthcoming unless the offtake and equity agreements were also in place.
So one finds himself on "the big day" in a huge room full of lawyers, bankers, company reps etc, signing document after document fot a whole day. And there are often small changes to be made, to which all need to concur.
Yes, John Young, I understand, but it MUST be close. Conix
THR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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