I tried to warn you. But you didn't listen. You just (in a brash show of hypocrisy) called me a "downramper" [sic].
Well looky looky.
"Management has warned lenders the company will be forced into voluntary administration if an agreement is not reached by that time to inject fresh funds to repay debts and keep it afloat.
"The directors of the company have to meet their own duties and ensure the company is solvent, so management has flagged that administration is likely failing an agreed solution in the coming days," a source close to Alinta confirmed last night.
The financial knife-edge follows a failed process in recent weeks to sell the company. Takeover offers from Middle Eastern investment firms made last weekend fell drastically short of Alinta's liabilities.
These bids, from Saudi Arabian investor ACWA Power International and Bahrain-based Arcapita, were understood to be about $1.5bn and $1.85bn, respectively, substantially below the value of debts."
That's what you 'call chickens coming home to roost', kids.
AEJ Price at posting:
5.8¢ Sentiment: Sell Disclosure: Not Held
