I don’t understand your logic here. Isn’t it what been announced last year and Vango is happy to comply? ROFR means right of first refusal. By definition, Superior can’t get anything more than what’s been offered to Dampier back in Jan 2017. So I refer you to the Jan 2017 announcement made by Dampier/ZAG, which clearly stated all the key terms of that offer. Because that Jan HOA was too vague, Dampier elected to sign with Vango a much more defined version and made it binding, hence the May 2017 BTS. To my surprise Superior didn’t pick the binding term sheet, which is much more enforceable and ended up with just an HOA. In legal world, that’s hardly enforceable.
anyway that’s not the point. The point is, I can’t see any downside from Vango JVing with Superior. It’s good news for both companies.
VAN Price at posting:
3.4¢ Sentiment: Hold Disclosure: Held
