I don't really understand it and I'm guessing a lot of other posters don't either.
But redzone seems to know his stuff especially in this area so I'm happy clappy enough to file it under non story.
And why wasn’t it mentioned the other week, when Cormack was on about transparency & fake news? It could’ve been mentioned at the Q&A. You know, the one where the Qs were screened first
A commitment appears to have been made for investment of funds.
One of those investment commitments appears to take the individual ‘ group above the 30% threshold meaning under Public limited company, they must make an offer for the remaining 70%.
The individual / group do not intend to make such an offering, therefore the plan is to make the company a private limited company, thus negating rule 9 of the public limited city code.
There also appears that there is sufficient agreement amongst the major shareholders that this will be approved on July 2nd, allowing the secured funds to then be released.
So in summary, the money is there and this is a process to release within the required needed time.
Hope that helps.
So unless the shareholders agree to Milne & Co's deal we dont have the funding?