Could any of you please tell me what this means? It is Note 22 on Page 41 of the financial reports:
"The Group?s debt and capital includes ordinary share capital and financial liabilities which are supported by financial assets. The Group is required under certain borrowing covenants to maintain shareholders? funds of at least $130,000,000 and not to exceed a project gearing ratio (defined for this purpose as total liabilities to total assets) of 55%. These requirements have been satisfied in 2011 and 2010.
Shareholder funds of $130m? Does anyone with a knowledge of numbers/accounting, know what that's about? Thanks.
rc, page-32
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