Due Diligence

[hugh]

Can someone just clear up something for me.

 

Pinnacle have completed due diligence, yes?

 

I thought the payment of the £500,000 was to enable the preferred bidder to do exactly that?

 

Have Pinnacle just paid the £500,000 just to keep the others at bay, to enable them to complete the deal then?

 

Apologies if I have not been paying enough attention.....

[kpturner]

Yes, I think it has been paid solely for exclusivity so that they cannot be trumped (for 21 days).

[NickG]

to complete the deal - sort contracts, agree legal terms, sort stock market and registering co, fa approval etc

 

due diligence and offer sorted.

[Scummer]

Yeah, it seems the money they've paid is just a deposit. Fry has taken the company off the market while they get the paperwork done.

 

Also, don't think the £500,000 has been confirmed has it? There's a few things they want to keep quiet, the total price they are paying and who 'they' are as well.