If the company is sold as a legal entity it changes nothing as far as a lender is concerned unless the purchaser is also going to replace the lending facility. Bain Capital who were taughted as the proposed bidder would be in a position to do this.
What it would do is get rid of KJ which is quite possibly what the lenders are trying to achieve, I know I would be. If that is the case then going forward nothing would change regarding PNC & it's financing arrangements.
Whether this is an encouraging update or a stay of execution only time will tell, at least it stops the clock ticking down on the default.
Ann: Pioneer enters Standstill Agreement with Senior Financiers, page-12
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Last
49.5¢ |
Change
0.035(7.61%) |
Mkt cap ! $69.48M | |||
| Open | High | Low | Value | Volume |
| 49.0¢ | 49.5¢ | 49.0¢ | $1.272K | 2.589K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 570 | 49.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 50.0¢ | 50932 | 2 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| PNC (ASX) Chart |