Comprehensive announcement tomorrow.
As I understand it, either the CEO is delusional or not quite truthful, or:
- Standard and Poors has just been through the business and the business is confident of maintaining its triple A rating;
- Share price is disconnected from the value of the coy/ business;
- Current overdraft facility with Society General is being withdrawn but the bank is happy to carry the debt till the end of the year, at least;
- Coy not concerned about resolving overdraft issues (overdraft currently $221m)
- Coy will do a road show post the announcement tommorrow.
Tomorrow will tell.
I am still being fed big doses of hope/optimism. It has caused me some anxiety though. Good luck to us holders after a wild ride.
AXQ
allco max securities and mortgage trust
