Ann: Long Term Binding Offtake Agreement Secured, page-326

This is the loan terms from the annual report. It says that for quarterly reporting periods from now on (30 September) must show a net debt to defined EBITDA ratio of 1.5:1. I’m guessing that’s an annualised amount. So at $173m debt as per the latest quarterly cashflow statement, we need $115m per year EBITDA, which is $28.8m per quarter. Any accountants or finance people please correct me if this is an incorrect interpretation. Also DYOR.
I wonder if AJM will have any trouble reaching this figure for the period. Could be a reason the share price is suffering? What are the consequences for failing to meet these requirements.