With respect, I disagree with your conclusions.
CATH is not getting 30.5% of DATHCOM, they will get ~40.66% of GLH, which represents their INDIRECT interest in the project, if the ML is issued to Dathcom
Several posters elsewhere have correctly noted that the deal changed to an indirect interest to preserve the status of shareholdings in DATHCOM as 75/25, leaving Cominiere no room to object to any sale of our share of Dathcom. Brilliant move.
DATHCOM structure remains, depending on whose legal viewpoint you want to take, GLH 75%, Cominiere 25% until ML granted, then Cominiere cede 10% to the state, and we have ROFR over the remaining 15%
Remember, we are winning on all fronts in court for a 90/10 outcome
IMO
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