RE: Future revenues12 Nov 2019 19:55
Is my understanding below correct? BMN essentially secure the supply of vanadium whilst benefiting from VRFB roll out/growth?
1. Consortium led by BE will purchase Enerox.
2. Helps diversify customer base and revenue whilst securing preferential supply rights of vanadium - under a separate agreement.
3. The initial 1.65m is paid to the seller who then has to transfer this amount to the company by way of a capital contribution? (Have I misunderstood this?)
4. If main spa is not entered then initial amount plus 12% due back to the consortium through call-put options. If this isn't paid back then can buy 50% + 1 share for 250,000.
5. Acquisition is on a debt free basis.
Any idea who the other investors in to the consortium could be?