well, I would be concerned about that going concern narrative in their results. All vehicle financing has been converted to short term debt, but the terms of that debt were not defined. Hard to define the qty's here - but my guess would be around R300m has just been defined as short term - ie. cough up 50% to 100% in the next financial year. So yes, SNU states that they need to raise at least R150m to get Standard Bank off their backs. A rights issue - maybe not, probably they will try to sell some profitable business, like the crane hire company. Personally, If I was still a share holder, I would say you have been given a get out of jail free card here with some folk prepared to take your stock off your hands for 26c a share. You should take the offer while you can. Because when those orders get pulled, you will be squabbling to offload at 16c.
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