doesnt make sense to me unfortunately lol, hopefully they explain it further if they do it
I could see instead of converting, NHC essentially "cash settles" the new fair value of the note, maybe with a premium. So instead of a face value of $100 they pay say $200.
The dividend also looks a bit too high to me, would have preferred they retained a bit more cash for a rainy day. The upcoming div will be circa $500m in cash outflow, meaning they only have 200m in cash left on the balance sheet, to cover tax, any cash settlement for the notes, + capex to get NA3 up and running
Also no mention of the $70m note to BCB? i cant find this anyway in the report (From BCB announcement: A$70M from New Hope (fully drawn))
NHC Price at posting:
$5.69 Sentiment: Buy Disclosure: Held
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