SDA speedcast international limited

Ann: Extension of voluntary extension, page-13

  1. 1,168 Posts.
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    The uncertainty has been created by the announcement.
    I share the views of @loooobs. Key points made by the Board in their announcement point to a business in financial distress and seeking ways to continue as a going concern. Resignation of CFO and most recently CEO is not helpful in this process.
    The company's auditors warned about the "material uncertainty" over its ability to continue as a going concern due to the reported loss, cash outflows and a $US655 million debt load.
    I was a holder but exited when company took on a huge debt load on the back of the Globecomm acquisition. This at a time when revenue was suffering from subdued market conditions in the energy segment.



 
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