Tpt cannot terminate the deal ( without ASIC consent)- it must remain open for the statutory term.
However , despite new directors being ready to go ( if the rumours are correct) they will take their merry time to reconvene the board . The practical result is that to meet the debt deadline Jka will have no choice but to raise alternative funds triggering a "prescribed event" terminating the deal . So unless 90% accept in the next few weeks - very unlikely - the deal is all but dead.
The Tpt deal and the free option with Cap Juby is a pipe dream- the only issue now is the merits of the alternative deals they are looking at in line with the various options you have outlined in your previous posts.
Regards
JKA Price at posting:
8.3¢ Sentiment: None Disclosure: Held
