Hi Jophda,
Your thinking is good. There are elements of this deal to make it easier to raise finance to build at T3 and elements to make a possible takeover easier. I don't think the board of MOD has decided on a preferred outcome, they just want to make all the options attractive. That's creating value for shareholders.
Cheers,
Tim
Ann: MOD to Consolidate 100% of T3 Project, page-23
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