AXL 4.21% 9.9¢ axel ree limited

Ann: Voluntary suspension extension, page-8

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  1. 3,450 Posts.
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    The triggering of covenants by what seems like 4 events that were all within the control of management/board is not a good look and it's clear that someone had to go.

    The statement is better than I thought it could be - suspension of trading for another month was a bit of a surprise tho. When it comes back online, the lenders will have looked over the business with a fine tooth comb and we'll have a pretty good idea about what they think of it based on how relaxed or onerous the revised covenants, loan limits, etc are.

    Therefore, I'll be leaving my decision to buy/hold or sell until then.
 
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