you a correct except you forgot Sky also have 100 million of issued bonds SKT020 corporate bonds maturing on 31 March 2021.
so Sky’s cash is 118 million, net debt/cash is now 18 million cash after deducting the corporate bonds.
so since the completion of the capital raise they have generated roughly cash inflow of 29 million.
18 million + @ post raising they forecasted a modest net debt position of 11 million = 29 million
The other bit to note is @ 31 Dec 2019 Net debt was 213 million so since the end of December they have been able to eliminate debt albeit with a capital injection of 148 million (148 million after fees).
i would also believe some of the cash they received over this period was from the Govt in the form of wage subsidy although how much SKT received, I have no idea until we get to the annual report.
SKT Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
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