Adler - comment

Following last year’s restructuring and the squeeze-out at ARE, as well as the eventual contracting of an auditor, the SteerCo - prompted by the successful appeal from the 29s - is now looking to extend Adler Group’s financing, but to D/E swap part of their holdings to acquire control. This is going faster than we thought - a lot faster than Steinhof. We are expecting Q4 financials to drop soon.