i don't believe it but it looks like we have another hawkswood situation. will ady go into administration?
this is from the announcement made on 11/02/09 and explains why ady is suspended...looks like the last of the YA debt was due today...supposed to be only US1.2million but if you look at the quarterly cashflow report the loan facility was $6.1 million at 30 june. so has ady been paying the YA debt off all this time? what on earth is going on here???
Repayment of principal of US$1,250,000 per month commencing on 1 May 2009.
A final repayment of principal amounting to US$1,177,783.50 is due on 1 October 2009.
The Series D loan is to be secured by a fixed and floating charge over all of the assets and undertakings of the Company.
this is serious
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