Im not sure i need to look into it a bit more. Im sure i can find an answer for you.
In the meantime a few questions for everyone else.
1. In April 2016, the DRC Ministry of Finance suspended the payment of VAT refunds. Whilst the suspension was rescinded in July 2016, to date no public statement has been made regarding the proposed future timing of payments, with inherent uncertainty relating to the timing of refunds. (Does this mean VAT is back? and TGS will get refunds?)
2. "...the group is not in compliance with the conditions as at the date of this report which constitutes a default under the fascility. Each lender under the fascility is therefore entitled to by notice to the borrow to require that their loan or part thereof, immediately repaid."
That is scary..Page 9 of the report talks about what i beleive is a covenant breach, TGS did not meet some form of covenant and the banks have the right to call in the loans but the loans were not called in? Is that right?
TGS Price at posting:
3.7¢ Sentiment: Hold Disclosure: Held
