...already known IMO. Screen is beeping. 3K & 300 player all over it. Maryvale upgrade completed.
Hope the cigar is not laced with explosives as she has risk.
Sydney - Friday - December 19: (RWE Aust Business News) -
PaperlinX (ASX:PPX) advises that some of the key European asset sales
planned for completion by 31 December are now expected to complete
early in the New Year.
The absence of the anticipated profit contribution from these
sales will result in PaperlinX breaching previously agreed lending
covenants for the period ending 31 December.
This possible outcome was referred to in the Prospectus dated 7
October.
PaperlinX is in discussions with financiers to address this
issue.
Earnings for the period are now expected to be more than 15pc
below the prior corresponding period.
The sale program of pan-European properties announced in
February has continued, with $90 million cash received from this program
through to the end of November, with additional transactions recently
completed in the UK, Netherlands and the Czech Republic.
Lending covenants have come under pressure during the current
half year as a result of the investment on the recently completed
Maryvale Mill pulp upgrade with minimal related earnings contribution.
In the second half earnings will benefit from increased
incremental benefits from the Maryvale Mill pulp upgrade along with
recent increases to Australian dollar pricing, translation of overseas
earnings, and improved receipts from the sale of Australian exports.
Volatility and deterioration in general external conditions
could also negatively impact earnings, while factors specific to the
global paper market, currency movements and company initiatives
including the previously announced profit protection plans could also
impact outcomes.
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