IMO the most likely course while big debt is being serviced successfully and cashflow is OK is to wait till market conditions are more favourable and trading improves. Then either trade their way out of the debt problem or sell the business at that time. No hybrid distributions till debt is sorted to a low level and no buyback of hybrids required. That process could take a decade or more.
I am starting to get concerned at this point about lack of further news on Futuris automotive sale though....
What is the delay now I wonder?
Ann: Sales Process Update , page-28
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