A letter has been received by the Directors of Olea from Great Southern Limited in relation to the previously announced agreement to purchase Olea's assets at its Dandaragan property. The letter confirms that Great Southern agree that the condition precedent relating to the renewal of the water licence from the Waters and Rivers Commission and the undertaking to transfer the licence from the same authority has been met to their satisfaction.
Consequently the only condition precendent remaining on the transaction is the approval of Olea's shareholders.
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Great Southern Limited