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34.0¢ st barbara limited

Ann: St Barbara Board determines not to engage with Silver Lake, page-5

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seigui

3 Posts.

23/05/23

14:47

Post #: 67918704
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Originally posted by Sherlock Buffet: ↑

Dear Members,

The final part of the announcement is the telling part:-

"Should St Barbara lose the Binding Genesis Transaction either as a result of (i) disruption to the shareholder meeting, or (ii) undue
delay resulting from the distraction of St Barbara engaging with Silver Lake, then:
• The $400 million Genesis capital raising that delivers the funding requirements to establish both the Leonora Operations
and St Barbara’s overseas assets will also terminate;
• St Barbara is likely to again breach debt covenants at 30 June 2023 and with the transaction uncertainty will lose the
basis of the waiver of the 31 December 2022 covenant breach; and
• Workforce uncertainty can be expected to create additional operating pressures at Leonora in particular."

Translation:- 'The company has been so poorly managed, although GMD may not be our best result, we're obliged to deal with them because if we don't our debt covenants will be breached and then the company is really screwed...' Some rationale for proceeding with GMD!

I feel sick...

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However, the St Barbara Board’s fiduciary duties require it to act in the interests of St Barbara and its shareholders as a whole.
This makes me sick......
SBM Price at posting: 58.5¢ Sentiment: None Disclosure: Held
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Last 34.0¢		Change 0.000(0.00%)		Mkt cap ! $278.2M

Open	High	Low	Value	Volume
33.5¢	34.5¢	33.0¢	$1.427M	4.209M

Buyers (Bids)

No.	Vol.	Price($)
2	170408	33.5¢

Sellers (Offers)

Price($)	Vol.	No.
34.0¢	98594	9

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No.	Vol.	Price($)
2	170408	0.335
11	242589	0.330
2	444871	0.325
7	1535763	0.320
4	911714	0.315

Price($)	Vol.	No.
0.340	98594	9
0.345	1138948	8
0.350	212155	12
0.355	179966	6
0.360	202686	11

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