I only have a smallish holding in this so haven't being paying it the attention I should have.
Facility details say it's a second ranking debenture loan facility, but if ANZ are currently first ranked debenture holder and if they are being taken out, then this new facility will be first ranked. Terms of the facility are pretty appalling.
I don't think it's possible for the market to take AIS seriously based on the new working capital facility terms - more like something you'd associate with a penny spec stock. I would rather they had raised $30m with a placement / rights issue at 30c - but assume that wasn't possible. I also assume ANZ were out anyway due to covenants not being met - but can't see that anywhere.
Ann: Trading Halt, page-46
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Last
23.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $222.5M | |||
| Open | High | Low | Value | Volume |
| 22.5¢ | 23.5¢ | 21.5¢ | $384.8K | 1.718M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 50000 | 22.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 23.0¢ | 329167 | 3 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| AIS (ASX) Chart |