RE: RE: Forum next17 Apr 2020 08:34
The Further Deed of Variation provides that the Disposal shall be for 100% of AAOG's interest in AAOGC rather than the 80% original envisaged. The Consideration shall be amended to £200,000 (the "Revised Consideration") which is to be paid in cash only upon receipt of consent of the shareholders of AAOG to the revised terms of the Disposal pursuant to the Further Deed of Variation (the "Revised Completion Date"). The payment of the Revised Consideration shall not be conditional on Ministerial consent. Zenith will assume responsibility for all liabilities within and ongoing costs associated with AAOGC at the Revised Completion Date. As a result, shareholders in AAOG will no longer have any exposure to the Tilapia asset or its liabilities or receivables from the Revised Completion Date.