This agreement was terminated because the condition precedent to the implementation of the CSA concerning Perdaman’s financial close was not met by the company.
Griffin Coal has also offered to withdraw this termination and to provide Perdaman with additional time until 15 October 2011 to achieve financial close including certain terms and conditions in line with the CSA.
According to the company, the offer for additional time must be accepted by Perdaman by 6 September.
