Hi Eagle,
You're assessment of the div situation is in line with my own.
I guess I'm a bit of a pedant , but you'll see above that Doctor Who had a different interpretation - i.e. that it was applicable to this financial year only. The wording doesn't specify a timeframe.
None the less Doc and Bergo are right that Divs are not the priority - deleveraging is. Armageddon will be averted provided we're sufficiently cashflow positive to cover the term loan repayments and are able to achieve this consistently to FY20.
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