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4.4¢ morella corporation limited

Hi noobtwd, yes it seems to be a bit of an oversight, either in...

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Names little

17,843 Posts.

1250

12/09/18

20:18

Post #: 35559950
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Originally posted by noobtwd ↑

Hi Names,

I agree the management hasn't been really good as addressing stuff and checking for completeness prior to making announcement. My point is to educate his claim of AJM may be about to be squeezed in debt vice. He made the assumption already without knowing how a negotiation of amended facility deed works.

I work closely with financier and recently had issue with one of our asset not being able to meet 4 quarterly covenants and had gone through 3 amendments of the facility deed since last year due to slow business ramp up. It's still a solid asset and still generating income and improving being one of the first to supply the market with our product, and banks understand it's in ramp up too after 6 months delay in getting it to market. All I explained was based on my experience of dealing with financier.

You can see others are starting new thread claiming it's all doom and gloom too whilst holding our neighbour's stocks, and claim some random Twitter guy ramping AVZ an expert banker and specialised in distressed debt situation calling the end of AJM. Maybe a question to ask those expert bankers and expert PLS holders? "Had the lenders wanting to get cheap distressed asset, why bother allocating further US$15mil?" They would have just sat there doing nothing for another 3 weeks waiting like vultures when default of covenant occurs 30th September 2018 wouldn't they?

Sure, I don't run Altura's operations and have no idea what was negotiated but I don't go commenting other stocks saying it's doom and gloom either. What I do is use a bit of common sense to explain why the world is not likely ending tomorrow.

Thanks.

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Hi noobtwd, yes it seems to be a bit of an oversight, either in not noting it has been waived or amended, or in not actually amending it. Hopefully it's just the first of those two options. Unfortunate the uncertainty it causes, not what's needed at this time with SP under pressure from somewhere.

Wouldn't hurt if they put out an amended announcement if it was just an oversight re subsequent events, clear up any uncertainty imho.

Thanks

AJM Price at posting: 23.5¢ Sentiment: None Disclosure: Held
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