That's a good point around the net cash benefit, perhaps not a great deal if you really drilled down. However, it does help the company move fast to stand down the Australian and UK workforce and, given the connection to staff won't be lost, provides a more plausible path for the business to revive itself after this passes. Like you say this will also probably help funding efforts with bankers and investors as well. Hopefully combined with rent holidays and slashing of other costs this will help buy time. Have to wait for further details from the company.
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$22.56 |
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