Basically the annoucements says, Goodman has done the rounds, no...

Basically the annoucements says, Goodman has done the rounds, no wants to give them a loan or any capital. They have gone back to their old mates Macquarie, who have said we don't want to give you any capital because you are looking a bit shakey, but for old time sake we will give you a small loan for 9 months or so to tide you over at the usual loan shark rates. But just in case things improve we want to have the option of buying some equity at knock down prices.

So if Macquarie is only prepared to pay 30c in 2 years time, and GMG will probably retain a few divivdends, what does it make GMG shares worth today? Probably close to zero. ie 30c less 20c in retained dividends less 10c interest earned in the bank.