How crucial do you think the 50mil finance facility is for a company with 27mil in the bank?
1mil finance costs for a company with fcf of maybe 8-9mil/pa after maintenance capex is huge. They should be able to generate at least 500k/year in a low interest rate account you would think. That’s a 1.5mil swing and almost 20% of fcf
have you brought it up with management/the chair(who incidentally doesn’t own a single share)?
Also the md on about 1mil per year seems a bit extravagant.
Ann: Trading Update, page-22
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