Phil Green was a bit cute in how he described the nature of the market cap back in March.
There was a general understanding from the market and investors that the cap would have to stay under $7.50 for 4 months before the banks could do anything.
Instead the real position was that the banks could move immediately and if at the end of 4 months it was below $7.50 they could ask for the facility to be repayed within 90 days.
BNB
babcock & brown limited
