whilst we're waiting27 Feb 2018 14:57
Seems the smart money is on a termination of the PVO acquisition. Here's the wording in the admissions document again to remind us
In order to pursue the Po Valley Energy Capital Reduction, PVE�s directors must be able to recommend
that it is fair and reasonable to PVE shareholders as a whole, supported by an independent expert
report. The Directors understand that such report is still awaited and there can be no guarantee that the
report will ultimately be produced in a form suitable to support the transaction, or at all. If such report is
not sufficiently favourable, PVE�s directors may feel unable to make the required recommendation
and/or PVE�s shareholders may not approve the Po Valley Energy Capital Reduction. Accordingly, and
notwithstanding that PVE is obliged under the terms of the PVO Acquisition Agreement to convene the
shareholder meeting, there can be no assurance that the report will be in a suitable form or that the
Po Valley Energy Capital Reduction and the sale of PVO will go ahead as envisaged in the
PVO Acquisition Agreement. This document has, nonetheless, been prepared on the basis that the
PVO Acquisition will progress as specified in the PVO Acquisition Agreement. The Company will make
a further announcement when the report is published or if it receives confirmation that no suitable report
will be forthcoming. In any event, the Company will update Shareholders before the General Meeting.
In the event that the report is not issued and/or the PVO Acquisition does not otherwise go ahead, the
Company will publish a supplementary admission document in accordance with the AIM Rules as soon
as possible
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