yes, it will come off the bottom line. Think of it as an amount of cash we never received. The NRW bank account never received the money and as such it cant pay it out.
its not clear which period the revenue was recognised in. Some might relate to this financial year.
We need to wait for the annual accounts.
Management tried to ensure it got paid the amount due, by taking out a “first ranking charge” over assets worth over $200m. Normally this would have ensured payment. It’s not very often that a government in Australia will effectively cancel that first ranking charge over an asset or backdate legislation cancelling a lease and its related asset ownership rights. This may set a precedent in Australian law.
its very interesting times ahead.
GLTA
DYOR
NWH Price at posting:
$2.80 Sentiment: Buy Disclosure: Held
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