Hi mate I have received an email response from BCSCA yesterday regarding the distribution . I hope it is not copyright or any thing sensitive to the market. This is what the company said when I asked them about the current thinking about the distribution.
"The Board and management are disappointed with the recent security price. This is especially so given that a number of analysts have issued reports on BrisConnections with prices ranging between $0.60 and $1.10 on the current initial instalment partly paid security.
As previously stated to ASX and the market on a number of occasions,
1. the price at which the Trusts’ stapled securities trade does not impact the pricing or availability of the funding for the Airport Link project;
2. all of the debt facilities raised by BrisConnections for the project are fully underwritten by a group of leading Australian and International banks experienced in motorway financings. Those facilities are and remain fully committed and available for their specified maturities (10 years in the case of the main project facilities);
3. there are no market capitalisation undertakings in BrisConnections’ debt facilities.
In accordance with both the Listing Rules and also good corporate governance, BrisConnections complies with and regards continuous disclosure of paramount importance. There is no market sensitive information which has not been disclosed to the market.
In relation to the distribution, no change to the September announcement has been determined by the Board. However, as any prudent board would in the current economic uncertainties, the Board is closely monitoring and may consider its options, in the best interests of all unitholders. Of course, if there is any change, an announcement will be made to the ASX immediately. "
I hope the distribution still stands at today maket price of 0.003 cts per share.
TOL Price at posting:
$6.67 Sentiment: None Disclosure: Not Held
