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Leakage, Permitted Leakage - Coggle Diagram
Leakage
Definition
(a) Dividends
(b) Transfer asset to Seller
(c) Discharge liability with Seller
(d) Waiver of debt with Seller
(e) Shares buy back
(f) Gifts to 3Ps +$5k indiv / +$200k aggregate
(h) Bonus payment to any employee
(i) Arrangemets with JVs that decrease their net assets
(j) Fees to obtain bank waivers
(b) Payment of any sum to the Seller
(g) Transaction fees
Timing of discovery
Unaccounted Leakage
Pays interest
Deadline 30/6/25
dollar for dollar
The Seller pays in cash to the buyer
Known Leakage
Set off from 1st tranche consideration
dollar for dollar
Permitted Leakage
Definition
(a) Bonus + Salaries
Bonus up to 6.5% of net income for FY2425
Salaries to Founders
Bonus up to $20.8m for FY2324
(d) Permitted dividends
(b) Arms length payments
to Seller's companies
Shipwatch
Lighthouse
Clean Marine
Neptune P2P
Codeblaze
Founders' properties
(e) BBC hire UACC's
(h) Purchase options for N8 Guide, Goal
(i) Any Leakage repaid before 1st tranche completion
(k) Dividend TG
(c) Transfers associated with CodeBlaze