Legend achieved a significant milestone during the quarter with the satisfaction of all Conditions Precedent in the Cameroon Sale Agreement. This cleared the way for the completion of the sale to occur. Due to the complexity of the settlement process across various jurisdictions it has taken longer to achieve settlement than provided for in the agreement, with settlement now likely to occur on or about 22 July 2014.
The agreement to cancel Performance Options is conditional upon the settlement of the sale occurring and approval by Legend shareholders of payment of A$1M consideration to the Performance Option holders. The meeting to approve the payment is scheduled for 19 August with the Notice of Meeting out shortly.
LEG, page-7
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
