directors -buying -to calm irrate lt holders, page-25

Need to take into account the time of drawing down on the borrowings as well as that would have an effect.

If they thought they needed eg A$100, this would be US$80 when FX is A$1 = US$0.80, then when AUD rises to A$1 = US$1, they would now need US$100 to get A$100 and thus a shortfall of US$20.

Fine that they have the facility, but depending on timing of drawdown, this will have an effect. Surely you don't think that if they have a US$1billion facility, they will draw this all at once.