Very simple put as of October each year, as EWI/Slipform only extends loan 12 months at a time, EWI can instruct Slipform to demand payment in full from EWC of all moneys owed!
Should Slipform demand payment within 30 days, currently with the situation EWC is in, EWC would have to offer shares in EWC as payment.
Thus the mechanism exists for Slipform to dilute other shareholders interests down to under 10% thus allowing Slipform or EWI to compulsory aquire all shares of EWC!
EWC becomes private company in the Elliot group?
Very simple put as of October each year, as EWI/Slipform only...
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