Chart Update, page-24712

It's an absolute mess no matter which way you slice it.

There is actually NZ$514M in debt repayments due this year.

What they've signalled is that Dairyworks and capital raising simply isn't enough. Of course Bright is supporting them in order to buy more time to raise the funds. If they didn't, could you imagine how difficult it would be to negotiate a reasonable asset sale price for the North Islnd facilities? They can barely offload Dairyworks as it is. It will be a fire sale either way, but with a bit of extra time they might at least salvage some value from the assets.

There is no need at this point for A2 to commit to any capital raise as the amount needed isn't clear. If Bright wanted to have control of the board etc., then it follows that they have the primary responsibility to sort these issues out.