Afreximbank, page-40

Dear Rocky - which bit don't you understand?
A solid equity base is a prerequisite for and bank debt.
That requires a significant capital raising ASAP.
Are you with me so far?
If yes, then you should realise that WKT is after riskcapital.
Risk capital requires a lot of upside to get the investors to open their wallets.
Still with me?
That means the rights issue will need to issue lots of shares cheaply.
And that dear boy is why 1-for-8 at 8c is the most likely near term development.
Once the equity is in the bank, then lenders may step up to the plate - but not before!
Got it????
DDD