You pesimistic nobs out there
LYC management would have started negotiations long before today re YA anns. They probably would have started back in sept 08 . Many companys would love to have this board , organising $$$ for the future, Yes they are smart have swallowed thier pride and said to (YA) "IF" we need your $$$ we thankyou for your offering and will trade it for shares . Simple , As stated earlier this may be part of the customary banking detail, to have back up funding in place (insurance -if you will) for the senior debt.
By the time LYC needs to cover short term capital the Austalian gov will have set up its Loan to business fund, yet another option.
To have have no emergency funds would be crazy and you nobs bag the management for doing their jobs.
I do also wish they had announced all this earlier however timming is everything . IMO LYC will be the mus thave of 2009 .
your never happy
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Last
$6.28 |
Change
0.190(3.12%) |
Mkt cap ! $5.870B | |||
| Open | High | Low | Value | Volume |
| $6.10 | $6.30 | $6.09 | $21.16M | 3.393M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3163 | $6.28 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.30 | 5246 | 2 |
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| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| LYC (ASX) Chart |