Only terms and conditions which "bear upon, or operate upon, or are otherwise closely connected or related to" the participating interest had to be disclosed.
Each other participant would then have the right to acquire the participating interest for the cash value on the equivalent terms and conditions set out in that notice.
Practically speaking, these are only the terms that will result in an equivalent cash price for the participating interest being offered to each other participant.
This is to ensure that any non-cash consideration contained in a change of control agreement for that participating interest is offered to each other participant on an equivalent cash basis.
