Yes it is 4 days delayed but you cant unwind 100m shares in 4 days.
To me they are factoring in something the longs are not. Could be either ASC or Covenant related. The covenant is more significant then people here believe. Lenders had set that Vocus debt covenant limit is meant to improve over a certain period i.e. the ceiling is 3.5x but banks set a requirement that the ceiling reduces to say 3.0x. Geoff confirmed the ceiling requirement on the telecom. So could mean a covenant review or a cut to dividends to accelerate debt repayment or the sale of a data centre. All not good.
VOC Price at posting:
$2.45 Sentiment: Hold Disclosure: Not Held
