In today's AFR there is an article about LLP's earnings results released yesterday and it mentions that LLP has flagged that it may be unable to refinance bank debt facilities due in December next year.
It then cites PricewaterhouseCoopers as saying that LLP is facing significant uncertainty regarding its continuation as a going concern. This in addition to the current situation in which LLP is in default and seeking waivers from its banks for a breach of the Interest Cover Ratio.
From a personal point of view I held some BBC shares and then sold out of them and decided that the only thing that would encourage me to buy them back would be if they were taken over by LLC and that being what happened then led me to buy back into the trust. I have full confidence in LLC and think LLP has a very bright future once the next 12-18 months are successfully navigated.
LLP Price at posting:
18.0¢ Sentiment: LT Buy Disclosure: Held
