I don't find the security requirement a concern. To be honest I don't think a Bank would provide this level of debt without a fixed and floating charge over all assets.
In a realisation position the Bank would get its money first, however the net asset position is reasonable so we would still have a reasonable probability of getting our investment back.
At the end of the day the company is profitable so this is a real worst case scenario anyway.
firsthalf net profit up 44pc to 18.6m, page-12
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