History shows that GMC management failed to reach financial close on this transaction, just like they failed to reach financial close on the Tanah Subrsciption Agreement (which would have seen Tanah Capital invest at an effective price of $0.009).
They then failed to reach execution of DSO (scheduled for Dec-17)
Failed to reach execution of the Bolok Land Lease agreement (which was the reason Tanah pulled out)
Failed to hit any milestone expected to be achieved for the Dec-17 quarter
All I see is failure, and shareholders accepting of this - hence the issue of performance shares
GMC Price at posting:
1.2¢ Sentiment: Sell Disclosure: Not Held