Personally I think ANZ is really close to the bone here. They are not providing that much capital and really just want a free 11 million shares which if you took $1.51 is a fee of around $17 million for what providing about $60 million loan and deferring $10 million in interest. Plus they obviously want interest on their money as well.
Personally I have moved my accounts away from them - they definitely dont live in my world.
I dont own but think its a great turnaround stock right now. But it may have to have a rights issue and even then you have to pay ANZ.
Personally I think ANZ is really close to the bone here. They...
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