You really are not understanding the concept of "Right Of First Refusal," are you? It doesn't matter if Sunlogics PLC wins the lottery (or, more realistically, announces it has acquired New Millenium Solar Equipment Corporation and its $8 Billion in assets) and no longer "needs" SLMU. SLMU is not an appendage... it is Locked In.
From the May 13 8-K:
On May 2, 2011, Sunlogics Power Fund entered into a Right of First Offer to Purchase Agreement (“Rights Acquisition Agreement”) with SLI for the right of first offer to purchase all revenue producing solar assets developed by SLI.
Right of First Offer to Purchase Agreement
The terms of the Rights Acquisition Agreement include the following:
(i)
SLI grants Sunlogics Power Fund the right of first offer to purchase all solar assets developed and built by SLI.
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(ii)
The purchase price shall be based on the valuation of the asset’s fair market value, by a third party which shall be mutually agreed upon by Sunlogics Power Fund and SLI.
(iii)
The term of the agreement is for 3 years with an option to renew for an additional 3 years.
The whole of the terms are set out in the Rights Acquisition Agreement.
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