AEV 13.3% 1.3¢ avenira limited

clear up some misinformation

  1. 12,287 Posts.
    lightbulb Created with Sketch. 38
    Just to clear up some misinformation:

    I notice quite a few comments that RIO own 10% clawback rights.

    This is NOT correct!!

    RIO exited the JV with INDO mines back in 2002 leaving IDO with 100% ownership. IDO then sold the project to MAK when it listed for some shares in MAK & 10% clawback rights. If they wish to exercise that right, they need to pay 20% of all costs incurred by MAK to date.

    So it is IDO that have the 10% clawback right.

    Some links:

    http://www.asx.com.au/asxpdf/20021204/pdf/00334431.pdf
    http://www.asx.com.au/asxpdf/20061011/pdf/3yy4jd3hpf22n.pdf

    cheers
 
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