Seems like they have no option left.
Last para from Page-14 of their Dec'HY report says that they have a biannual payment commencing frm July'14 for the $117.6mil Senior sub-ordinated notes, which requires a payment of $11.4mil in July'14 @ 13% interest.
2c/sh for 1330mil shares is $26.6mil plus whatever the debt equates to, is what 7 r looking at as per this article in the newspaper.
As for LT, has been steady at 34 TJ since repairs, so NXS should get 8.5mil in revenue for this qtr.
Sadly they don't have much room to play with, hence this offer to put them out of their misery.
we are going to be offered 2c a share!, page-15
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Last
22.5¢ |
Change
-0.015(6.25%) |
Mkt cap ! $65.73M | |||
| Open | High | Low | Value | Volume |
| 21.5¢ | 22.5¢ | 20.0¢ | $50.64K | 245.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 27019 | 22.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 22.5¢ | 1221 | 1 |
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| Last trade - 15.46pm 04/09/2024 (20 minute delay) ? |
| NXS (ASX) Chart |