Woolly loose wording10 Apr 2019 20:35
seems very loose this RNS with the little placing attached at the end.
Pathfinder provides an update on progress towards restoring an interest in Mining Concession 4623C (the "Licence") in Mozambique and settling all current and pending legal disputes associated directly and indirectly with the Licence (the "Proposed Transaction").
The Board is evaluating multiple transaction structures, taking into account commercial and regulatory factors, through which the Company could hold its interest in the Licence and deliver value for shareholders. While the optimal structure of the Proposed Transaction remains under evaluation, the Board is pleased to relay that the principle of a Proposed Transaction has been agreed between Pathfinder and General Jacinto Veloso who, with his family interests, is a 50 per cent shareholder in the entity to which the Licence is currently registered. In parallel, the Board is evaluating, and is in active discussions with regards to, potential funding strategies (including both partnerships and debt provision) to facilitate the Proposed Transaction and finance subsequent development of the Licence. The Board's objective is to deliver meaningful value to current shareholders and minimise future dilution. Further updates will be provided as and when appropriate