Hi @Klogg
Agree on loan terms, incurring interest expense due to drawing down funds and not using them is not great. The cost for first half is $AUD850k, assume this is more than a month of interest.
The other kicker is the break costs of $1.1M.
They do have a lot of cash on the balance sheet at the moment ($47M). Hopefully they can offset a bit with a High Interest Saver account - 4% versus loan cost in the vicinity of 9%.
It'll be interesting to see how the market reacts today, Happy Friday!
Ann: H1 FY23 Results Presentation, page-4
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