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Ann: Trading Halt, page-107

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Aotea

669 Posts.

7

22/02/19

13:35

Post #: 37531645
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Originally posted by Kingtup ↑

Originally posted by yanlin
If you go back to the last conference call it seemed apparent that the arrival of the US$272m into the GXY bank accounts (and not a trust account) was a condition precedent for the bids (maybe one or more) to be effective.
My gut feel is that the court has signed the transfers, the money is in the bank and that confirmation is required for a binding bid (or more than one) to be effective. This would warrant a trading halt as the bidders (no doubt) will need their respective Board approvals for their offers to be binding.
This seems to be the logical explanation as to why we have a trading halt.
I agree to your comment a JV bidder would want to see that the money is in the bank account as part of the condition

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Yep, in my humble opinion, this is spot on...

GXY Price at posting: $2.12 Sentiment: Buy Disclosure: Held
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0 Great analysis

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