SK Innovation, page-233

Ok, a number of things.

1/ SK only need to advise of their intention before Feb 20, and then an EGM would be called.
They don't need to have acquired the shares before Feb 20.

2/ they don't know what number of shares SK may want yet. There has been some changes re: share numbers.
So 19.9% isn't 669 mil shares like it was. But the price will still be 12c as per the agreement.

3/ SK are acutely aware that a holding of over 10% gives them a seat on the board and the ramifications around Flemington etc.

4/ although AUZ do have the ability to issue shares under rule 7.1 etc they won't do it. They want the shareholders to have the say in it.

5/ the delay in committing isn't really stalling anything. If it is, maybe by 2 months.
They expect to have the finance done before June anyway.

6/ Ben is going to Korea at the end of this month. And he will meet with them again before feb 20.
If they were to take up any option he said it won't happen over the phone or via email etc.
It will happen in one of those meetings. And they try to meet every two weeks.

7/ he said SK can't buy on market, it would be insider trading. I said "I did the figures on that. By the time they would have acquired 25 million shares the sp would be 12c at an average of 7.4c shares. They'd only be saving $1 million". He said 'exactly, even if they could they wouldn't waste their time.

If I remember anything else I'll post it.