re: Ann: Establishment of Multicurrency Debt ... Simplify it.If you gave me $420 AUD @ 7% and I purchased childcare centres at EBIT of 4 that's 105 EBIT yes?Interest on the purchase was zero to start with so add in the 420 times 7% which equals approx. $30 million.Tax of 30% on 105 is 31 so that leaves $44 million buffer.obviously if they start buying at 5 and 6 EBIT it tightens up. on a 6 EBIT that's $70 million less 30 less 21 tax, still $20 to the good.There are other associated costs and overhead but given the scale GEM can do this as oppose to walk ups like you and me.This $500 million should be it for a while, spend up and bed down and control growth.
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