looks like this is the capital restructure we have been waiting 6 months for. lets hope the market likes it.
expect a debt for equity swap , with a new major holder. Not sure what they will do with the ETWG as they would want to convert those into shares also.
on another note, wine exports booming again, with US and China the standouts. ETW targeting US where the margins are better, but falling $us not good;
AUSTRALIAN wine exports have set new value and volume records in the year to the end of April.
Volume rose 12 per cent to 797 million litres and value grew 6 per cent to $2.94 billion, the Australian Wine and Brandy Corporation said.
In the 12-month period, the US overtook Britain as the most valuable export market. The US accepted some $963 million of Australian wine, compared with Britain at $958 million.
But Britain remained the main export market by volume, taking 35 per cent, or 275 million litres, of Australian wine exports compared with the US, which took 29 per cent, or 230 million litres.
The corporation's information and analysis manager, Lawrie Stanford, said China was a key contributor to the growth in both the volume and value of exports.
"Volume (to China) grew 16 million litres to reach 25 million litres, while value grew $28 million to reach $46 million," he said.
Mr Stanford said that of Australia's top 15 export markets, five countries — Singapore, the Netherlands, Ireland, Belgium and Norway — had set records for volume and value.
Britain, France and Germany set new volume records for the 12-month period, Mr Stanford said
ETW Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
