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@Velo65 can you share how you calculated the number of 1.16? I'm...

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Pentagon23

96 Posts.

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18/11/20

23:59

Post #: 48974424
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Originally posted by Velo65: ↑

The other bank covenant that appears to be troubled is Cumulative Debt Service Ratio to be greater or equal to 1.30 times. (P64). Whilst we are not privy to the full definitions provided in the Facility Agreement it is quite possible they did not meet the measure of 1.30 at 30/6, approx 1.16 'ish.

The available cash (debtors plus cash on hand) minus the trade creditors was also in deficit in FY19 by $3.3M, $0.9M worse at end FY20.

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@Velo65 can you share how you calculated the number of 1.16? I'm trying to figure it out... not the best with formulas.

VMX Price at posting: 22.0¢ Sentiment: Hold Disclosure: Held
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