The dispute is subject to confidential Arbitration. The hearing is set for the 17th December for four days.
I suspect that the board is confident of the dispute being settled based on the fact that;
1. The Lenders are prepared to extend the debt facility until June 13 2. The directors are talking about reviewing their remuneration 3. Ausgrid is a Government entity and for a legislative change to drive the closure of a business through another Government entity forcing it into administration is a joke 4. The purpose of the Carbon tax was to pass through to users to change their behaviour. Ausgrid are being recalsitrant 5. What Ausgrid are after is effectively the Grant of $8.7m and the free Credits.
It will be interesting to see where this one ends up but my view would be that the middle ground on this will still be favourable for AEJ and anything above that will be a bonus.
AEJ Price at posting:
$6.43 Sentiment: Hold Disclosure: Held
