HungryCat I think that's the problem here it was only a discussion and nothing formal from what I can gather.
TEG had the cash all ready to go and prepared to meet AWE terms and negotiate a deal.
EXR had a period of Exclusivity to make the deal happen but that expired and AWE put the CH back on the market hence TEG entered the ring along with possibly some other interested parties.
Now we are informed that there were discussions taking place between TEG and EXR but as we know now obviously TEG decided to take the ball and run.
Why TEG, it was cashed up.
I still for the life of me can't workout why deal was not actuated by us during our Exclusivity period.
Look at EXR announcement dated 30/11/15. Exclusivity was extended to 29/01/16 and EXR were told to show proof of the 3 mil finance to AWE. We had plenty of time.
So EXR new exactly what it had to do. But did not come up with the money or evidence to satisfy AWE.
At this point given the future cash flow of CH I just can't for the life of me work out why a deal could not have been struck with somebody for the money. My forehead is yellow and bruised from slamming it on my desk continually.
AWE obviously got tired of it all and went with the cashed up TEG.
If you ask me this latest announcement just puts more salt into the wound for me as a SH of EXR.
The above is just my take on things. I am still stunned the CH is not ours.
Oia can probably shed more light on the whole thing as well as he had some interesting chats with AWE.
Anyway hope this helps.
The above written by me is all of my opinion only as always DYOR.
EXR Price at posting:
0.1¢ Sentiment: Hold Disclosure: Held
