t/o off, page-5

There announcement is somewhat unclear and I hope the ASX are onto it. They say GWA are interested in buying API for "$14m on a debt free basis", but haven't said how much debt they need to extinguish... ie what are the net proceeds to QTG after repaying the debt within API, and how will they repay it? They have loans from GE and loans from Helmsman within QTG, but how much of these are in the API subsidiary? I only had a small holding but sold it at 3.4c this morning on the basis that I feel uninformed and 3.4 isn't too much lower than the 3.8 I would have got if GWA had kept the T/O in place.