So it appears they'll only pay interest on A$75m comprising Super Senior and Working Capital facilities. Assuming the latter is fully drawn and a hypothetical interest rate of 5% that's $3.75m interest per year.
GBP250m means the New Lenders will get first dibs on Watchstone / insurance payout related proceeds and/or asset sale proceeds in the UK only. Any balance of this facility at the undisclosed maturity date (3 years?) converts to a nominal number of additional shares. Further dilution.
The warrants related to the new A$5m facility will also dilute existing holders a further 20% from 5% to 4%.
Just trying to understand how this thing can re-rate for existing shareholders absent an amazing BAU turnaround. Perhaps NIHL settlements will parachute in and save the day.
- Forums
- ASX - By Stock
- SGH
- Ann: Recapitalisation Agreement
Ann: Recapitalisation Agreement, page-65
-
-
- There are more pages in this discussion • 199 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SGH (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non Executive Director
Simon Kidston
Non Executive Director
SPONSORED BY The Market Online