An excellent example of just a few of the many i's and t's that need to be dotted and crossed to get this deal through...
"Sundance also notes that the expiry of the Mbalam Convention, late lodgment of the 2018 AnnualReport and suspension of trading in its securities on the ASX constitute “Events of Default” underthe convertible note deeds between Sundance and the Noteholders (Note Deeds). On 31October 2018, Sundance secured waivers from each of the Noteholders to enforce their rightsunder the relevant Note Deeds in respect of these Events of Default, which will remain in forceand effect provided (i) Sundance shares cease to be suspended from trading on the ASX, (ii)Sundance lodges its 2018 Annual Report with ASIC and ASX and (iii) Sundance enters a newConvention on terms substantially similar to the Cameroon Convention, in each case by 1 July2019."
Good luck to the respective parties as they travel to Africa to negotiate an extension to the Mbalam Convention.
Also looking forward to having a read of the SDL Annual Report, once published.
GLTAH.
