suspension, page-68

Another write up in the AFR Steet Talk today.

Key points:
Short term debt covenant relief ends 30 March, but suggested banks will provide more breathing room and may be trading again in a week or so.

Still talking $130M raised between 25-30c

Sources close to the company say talk of Hastie being on the brink of collapse is far from the tructh, pointing to work on hand.

"Whilst finding a solution with existing shareholders is no doubt the preferred option, it's believed Hastie is considering other funding possibilities, including alternative debt structure from an offshore investor and taking on a cornerstone investor"

That last point really irks me. As a not insignificant shareholder based on public info to date I would happily support a recapitalisation and would oversubscribe any rights if the option was available. I hate to see a new comer pick up a huge stake on the cheap at the expense of all existing holders.