I'm a bit unsure on the upside for Royal IHC. I read it as if...

I'm a bit unsure on the upside for Royal IHC. I read it as if the project goes ahead they don't get shares they just get the business, a few hundred million of EPC works, If thats the case It makes sense. Although it seems to me like they just bought the job for a million bucks. I'm not fully abreast of contract law but I'm pretty sure there should generally be a competitive tender for works of this size. unless that was undertaken and this was fully transparent through tender.

a million bucks worth of shares at the higher of today's or laters market price creates a strong relationship. Royal IHC clearly think this is either guaranteed to go ahead or the company is still worth owning 5% of.

happy to sit here and watch this play out, I wonder if Royal IHC are hiring