"The Company is currently compliant with its bank covenants. On the basis of the revised earnings guidance set out above, the Interest Cover Ratio covenant would be breached at 30 June 2017. The Company has today discussed this with its financier, who has confirmed that it will waive the anticipated covenant breach."
Regardless.. most of their credibility is now lost and the board will need to take action... (like 4WD)
MRG Price at posting:
62.0¢ Sentiment: Hold Disclosure: Held
