Ann: Rural Services Trading Update , page-83

MJS, I agree with your interpretation about trigger points. Also, given that proceeds from such sales are all going to higher order creditors (the banks), there is unlikely to be any challenge to your view from PA holders. That leaves the big question of what to do when we are down to the last asset, probably Futuris. At this point the company would be in a sound financial position, having no debt and making money, so there is no urgency to do anything. So why not just resume paying dividends to the preference shares. Ordinary shareholders can be paid down the track.