Hey guys,
I would really appreciate if anyone could help me clarify some things shown in the 31 December half yearly and the investor presentation for the capital raising. My questions are:
1) Why is the company's borrowings of $191.7m not appearing as part of 'non-current liabilities' in the pro forma balance sheet? I thought $8.4m is current and the remaining $183.3m is non-current. Does this mean covenants have been breached, even though it says the leverage covenants have been waived until June 2021. I wonder if it is to do with the new covenant requiring at least $100m of liquidity.
2) Secondly, how has non-current assets increased by $39.3m to $973m?
Below is an excerpt from the FY19 Annual Report for more clarity regarding the borrowings maturities:
If anyone could answer these questions I would really appreciate it, otherwise I plan on contacting the company. I think these changes are too material to be ignored. They are happy to give us a pro forma EV / LTM EBITDA figure, but not provide the slightest info on these changes. I wonder if the 1st question I made is just them failing to make it clear enough. Not the best look.
Happy to clarify anything if needed, thank you!
Hey guys,I would really appreciate if anyone could help me...
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