I agree with red-frog - I think this spells bigger issues for the company funding wise. If they had a lot of other funding options, they wouldn’t need to call upon related-party loans. Unless that in itself is a self-invested move by Lew, which also isn’t great.
If a default notice had been issued, HAS would have had to disclose it to the market, even if they disagreed with it, so it’s probably just media speculation at this stage. I note, however, that the 26/08/2022 announcement said they are 3-year exchangeable notes, so it still begs the question how they’re going to repay the debt to Wyloo in the next 9 months if they have to rely on Lew to stay afloat at this stage.
Either way - doesn’t seem to spell good things for the future of HAS, so I would be running for the exits if I were a shareholder.
HAS Price at posting:
28.0¢ Sentiment: None Disclosure: Not Held
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