Yes, I'm aware of that, but that was not the question posed. Why is it you judge they need to reduce their LTV now (when it is currently about 41.5%)? If the LTV were anywhere near the level of the covenants, or moving in a meaningful way toward them, no further explanation would be required. As it is, some more clarification would be of interest.
Ann: URW 2020 Half-Year Results Presentation, page-71
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