GTE 0.00% 3.4¢ great western exploration limited.

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  1. 27,694 Posts.
    lightbulb Created with Sketch. 4748
    I would be coloured by the experience you had with options too NiceOne.

    25/9/13
    "GTE and Tauken Samruk (“TKS”) have signed a contract under which TKS will sell 50% of the JV Company (which holds the Sub Soil Contract over the Spasskaya copper project) to GTE.
    The next step is for the JV Company to be re-registered with the appropriate Government Department to reflect the new ownership details and to register the new management of the company. All the necessary paperwork has been completed and lodged for the re-registration of the JV Company which is expected to be confirmed shortly.
    As per the Implementation Agreement GTE will initially own 50% of the JV Company, however if the company withdraws from the JV prior to fulfilling its obligations then this share will be transferred back to TKS at no cost.
    The JV partners will also now finalise the Company Charter (the commercial terms of which were agreed in the implementation agreement announced to ASX in April 2012). "


    14/11/13
    "The company is also pleased to report that all the Foundation Agreements have now been finalised and the JV Company has been re-registered with the appropriate Government agencies to reflect the changes in ownership.
    The Foundation Agreements include the Company Charter, which sets out the rules in which the company is to be managed, and the Shareholders Agreement, which sets out the obligations of the shareholders to each other. Furthermore both the Executive and Supervisory Board members have been appointed. This concludes all the legal and administrative work related to the Spasskaya JV and the JV Company management can now focus fully on operational matters"



    I'll let you look up the 10/4/12 ann under "Implementation and Management Agreement", it's all there.
 
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