GCF - thanks for that
I still wonder if they will likely be within covenants at the time of their FY results release. I've heard nearly that exact statement before a crap raise many times (GBG comes to mind). Obviously the intention would be to avoid such an outcome by having the business perform well enough to keep the lenders happy, and to admit to any probability of a cap raise would not be smart as it would likely increase the cost of the raising by reducing the share price.
However it is food for thought all the same.
Ann: Trading Update , page-31
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