Total assets are $462.4m
I figure they need to reduce debt by $45m and raise about $80m (debt, Harris St pro rata note, capex and costs).
From the Lederer announcement: "Lederer Group’s equity commitment of $50 million includes an offer to take up 100% of its entitlement and sub-underwrite any potential rights issue at an indicative offer price of 60 cents per ECF security."
So Lederer can contribute $50m of that $80m by sub underwriting at $0.60. They just purchased 14% of the company at $0.60. I don't see why they would be happy raising below this number.
ECF have also appointed agents to sell the Nexus Centre which is valued at $33.5m.
The low end of FFO guidance is $0.093 and assumes Nexus sale leading to distribution guidance of $0.075.
I figure distributions can be maintained but to give me a margin of safety I've underwritten into my valuation a reduction.
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Ann: Strategic Partnership and potential ECF rights issue, page-8
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Last
66.0¢ |
Change
0.005(0.76%) |
Mkt cap ! $268.6M |
Open | High | Low | Value | Volume |
65.5¢ | 66.5¢ | 64.5¢ | $111.0K | 169.0K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 20513 | 65.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
66.5¢ | 36451 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 20513 | 0.655 |
2 | 6725 | 0.650 |
1 | 5500 | 0.645 |
2 | 58000 | 0.630 |
2 | 32775 | 0.625 |
Price($) | Vol. | No. |
---|---|---|
0.665 | 36451 | 2 |
0.670 | 9015 | 3 |
0.675 | 30750 | 2 |
0.680 | 7161 | 2 |
0.685 | 2750 | 1 |
Last trade - 15.47pm 25/07/2025 (20 minute delay) ? |
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