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announcement or no announcement?, page-112

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badhan

3,978 Posts.

171

07/04/17

14:18

Post #: 23937105
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Originally posted by col69 ↑

Thanks .. I still do not believe they can withhold price sensitive information if the debt repayment has already been made ? The September Quarterly advised that they were making the payment in the future - October....

From the email response you received:

This will not disclosed until we release our quarterly report due out at the end of April 2017

Apart from the poor grammar 'will not disclosed' instead of 'will not be disclosed', it doesn't actually advise if the debt repayment has in fact already been made so they may not be in breach of ASX rules of disclosure? It's hard to accept that the lenders would wait until May to receive their payment (After late April - March Quarterly), but I guess the lenders get additional 1 month's interest on the full $118m outstanding so they may not care.... however it would be a poor decision by management to withhold the repayment for an additional month and pay additional interest when under the agreement the amount over $80m as at in this case 1 April 2017 is not going to change in that time ?? They are committed to paying that amount so why not do it now and save interest .....

Maybe they are going to repay the entire amount in May and shock everybody ?? LOL

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Something is going on. Why no announcemen? Who are they helping by giving more time without announcing debt repayment?

Volume is very low.

AGO Price at posting: 2.6¢ Sentiment: Buy Disclosure: Held
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