Ann: Change in substantial holding, page-31

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rosencrantz

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17/04/19

17:40

Post #: 38186353
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Originally posted by pikel1980 ↑

So I had a few moments today and decided to re-read the terms sheet provided by BLA on the Oaktree Loan.

Essentially it provides some details on the breach provisions - BLA have a cure period, 10 business days for non-payment and 20 business days for other breaches. If the breach event was the 1st April, then they have until the 1st May (lots of holidays in April) to show how they have "made good". But thats a guess, the timeline could be the 15th April for Breach and then 20 business days after that.

Now I'm assuming that the breach is the recurring cash ebita or min cash balance, which could be rectified by showing forecasts for the next period and then sticking to them.

If its a min cash balance, thats harder, but could be rectified if they are selling down funds and collecting the unpaid management fees or performance fees.

So why does this matter, well it could suggest to us a timeline. So I'm thinking that they will be announcing to the market which way this goes around the 1st of May, which means the bloodbath that is the share price will probably continue until then.... Fidelity must be getting closer to another market update on their selldown, I recon close of business tomorrow...

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helpful analysis ..and thanks.
But is an entry price of 5 cents realistic ?..given that the drover's dog could turn up an enterprising fund manager like WAM to orchestrate a buy out of the funds management contracts within the cure period?
would you consider lifting it to 25 cents!

BLA Price at posting: 29.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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