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Ann: Trading Halt, page-58

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thebarry111

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20/03/20

09:39

Post #: 43598594
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Originally posted by swimmingtoad: ↑

Interestingly, that one on The Australian was posted at 6pm yesterday, and the AFR also reported a different story at 9pm.

Webjet addressed a handful of the faithful institutions in calls on Thursday, updating them on the situation and telling them it could take another few days before the board would know what to do.

It is understood the shareholders were told about the company's financial woes. Revenue has fallen off a cliff as travellers stop travelling and airlines ground aircraft, and is stuck between clients wanting refunds and counterparties going bust.The extent of the situation, though, may take some time to work out. There are a lot of pre-bookings in the travel industry, and they can be hard to unwind.

The other option is trying to progress a couple of private equity-backed funding proposals, which were said to be subject to the usual terms and conditions, and structured as convertible and/or preference shares.Those proposals could buy the company time, but could also amount to doing a deal with the devil.So Webjet finds itself between a rock and a hard place.

As at late Thursday, there was still no clarity on which way the directors would try to save the company, and they could take a few more days yet. Goldman Sachs' bankers were believed to be in there helping to assess the options.It's understood the select few shareholders were asked their views. No one wants to pile in good money after bad without being able to see out the other side.

I would say they have different options and it isn't a time to cause unnecessary panic on the forums - There is already enough of that going on.
Wait until official news.

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I’m a holder. Took a little punt out of stupidity.

They can’t raise money plain and simple. Blind Freddy could see this going broke. Will put this down as a lesson in stupidity and move on.

I doubt this comes out of a trading halt and if it does I’ll wish it did remain in a trading halt.

WEB Price at posting: $3.76 Sentiment: None Disclosure: Held
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Last $6.91		Change -0.090(1.29%)		Mkt cap ! $2.712B

Open	High	Low	Value	Volume
$6.93	$6.95	$6.87	$7.227M	1.045M

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No.	Vol.	Price($)
4	9163	$6.90

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Price($)	Vol.	No.
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No.	Vol.	Price($)
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4	27661	6.890
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2	8708	6.860

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6.930	54060	13
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Ann: Trading Halt, page-58

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Ann: Trading Halt, page-58

Top Stories

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