Ubs success fee (no retainer)12 Mar 2021 23:02
I've watched the proactive interview again.
28min in Dimitry clearly states SUCCESS FEE & NO RETAINER. This was Brought up some time ago on the board as to what a retainer is, I've done a bit of digging on this topic, and it fundamentally means UBS & CITIC are not requesting money on account or upfront. They have worked out the probability of a deal and will reap the reward at the end.
However UBS & CITIC may a have minimal fee structure in place that is payable by both any potential buyer as well as EUA.
I am happy to be corrected