they didn't have much of a choice. debt was due 31 Oct and banks were not willing to extend again.
Tried to refinance debt, no luck. Tried to sell assets, no luck. This was the last option at the 11th hour.
RFG had 2 years to clean up the balance sheet...doing exactly what you suggested....got them in this mess...kicking the can down the road.
Those performance rights are a bit of a joke, slap in the face for current equity holders. Anyhow, what needs to be achieved for them to be granted?
Ann: Trading Halt, page-152
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