RE: Semnet8 Jan 2025 10:01
Parts of the Heads of Terms contract are LEGALLY binding! Please read the RNS and do the research .
HEADS OF TERM CONTRACT EXPLAINED :-
A heads of agreement document will only be enforceable when it is adopted into a parent contract and is subsequently agreed upon, unless otherwise stated. Until that point, a heads of agreement will not be legally binding. However, such documents can become legally binding if the agreement document contains terms or language which explicitly indicates an intention to be legally bound.
LOOK AT THE NOVEMBER RNS
The HoT contain certain legally binding clauses including:
- TGC will be responsible for, and will provide, necessary transaction expenses of both parties, which are expected to be approximately US$2 million. GST will commit an advance of 20% for the payment of the listing expenses and upon a successful IPO this amount will be reimbursed to GST.
HOPE THAT CLEARS EVERYTHING UP!