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Debt

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Regular Contributor
So the results are out. They are now making a cash profit, and operations have improved nicely. However, I was hoping to see more movement on their debt position - this is what is killing them. It's obvious they can't trade their way out, so its down to asset sales or another rights issue. Overall, it's enough to justify holding, but is not compelling enough to buy more.
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Super Contributor
Another business rescue waiting to happen?
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Regular Contributor
I think they went through business rescue a couple of years ago, with a debt moratorium agreed with banks etc. It's still the debt that's killing them, so a rights offer is more likely I think.
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