GREY:CSOSF - Post by User
Post by
DTM5on Nov 21, 2013 4:05pm
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Post# 21928894
Break fee
Break feeHere are the details - Not a huge amount of money but certainly an issue for a potential acquisitor.
The Board really screwed up granting this provision in their deal with IDG without performing adequate analysis / diligence. Has cost shareholders a bundle. If this were my company heads would roll.
the break-fee conditions have been renegotiated with IDG whereby the break-fee amount has been reduced by two-thirds to a total of $435,000. This allows the Company to consummate possible offers or proposals over this period at a reduced cost. The term of this agreement has been extended to March 31, 2014.
Read more at https://www.stockhouse.com/news/press-releases/2013/06/07/commercial-solutions-provides-strategic-review-update#YeQ6CRlQmk0kceOE.99