poor performance from abacus today, page-28

Thank you for that Bigdogolog.

They have certainly tried to hide that or certainly avoided highlighting it. Makes sense I suppose.

So I guess they have given themselves a bit of headroom with the sale of those storage assets, but are hugely vulnerable when they have to mark down the value of all their property assets in line with the general devaluing of properties at some point in the near future.

I would take it breaching the covenant would trash the share price, but the lenders would not want to wrap it up would they, just extract extra money for lending and take a bigger chunk of control? I did not realise they were sailing this close to the breeze, erroneously taking the 36.5% gearing as the relevant number.