RE: Current Vessel Position17 Nov 2020 09:17
thinking back to suspension, it was over CITIC and confirmation of relationship, after we came out we signed with Citic, appointed an MandA lawyer and then shortly after appointed UBS on no win no fee.
Why did UBS one of the worlds top MandA banks agree to this? Because they are very smart people and were able to independently value EUA, see that EUA's expectations were realistic and that the conversations held between EUA and those expressing interest were proving that the parties were not far apart. A deal was a realistic expectation. UBS are not estate agents who sometimes have to take on overpriced stock for appearances sake. UBS will have put a timeline on this to keep people honest.
DLA piper are similarly the cream, you don't need them unless a deal is being done and like UBS they will set out a timeframe for the stages in their process. They will be working on a percentage fee and wont spend time or resources in an open ended fashion.
The resource upgrade application at WK will be known to any purchaser, they will have seen the application to do their numbers.
GLA
DLA piper similarly are the cream in their field and don't do ambulance chasing