As we haven't heard anything from the company maybe we can get some feedback as to what the thoughts of the current financial situation is from HC punters.
Total Net debt company advised ASX $1.551 billion less $900 million (stella debt) less $409 million payment for Stella less $43 million Domain aged care less $50 million sale of other company shares.
Current debt position is $149 million.
Other debts mentioned in the press New Zealand group. $62.7 million $11.3 million and $15.6 million. Total $90 million.
Were any of these debts covered in their stated ASX debt position?
I would say that New Zealand is losing money so i would think that MFS is looking to sell of all the assets that MFS New Zealand owns and pay that debt off. I noted that 90% of these assets are Australian property so will be interesting to see what they sell them for but they would have to be priced reasonably well as Australian property is still holding its value?
Whatever is happening in New Zealand should be disclosed to the market as its not helping any PR for the company.
MFS
mfs limited
financial postion
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