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  1. #3331
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by Schrodinger View Post
    What is the cash for? I had a quick look through the 2019 interim results, they didnt mention cash position ($90M sitting in CA) - didnt have time to ferrit through all the pages. They should include this as a minimum.

    Is the new tech subsidiary draining money?
    I suppose they need some money to fund their next dividend ;
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    "Prediction is very difficult, especially about the future" (Niels Bohr)

  2. #3332
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    Quote Originally Posted by BlackPeter View Post
    I suppose they need some money to fund their next dividend ;
    I was hoping that wasnt that case =)

  3. #3333
    Speedy Az winner69's Avatar
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    Quote Originally Posted by Schrodinger View Post
    What is the cash for? I had a quick look through the 2019 interim results, they didnt mention cash position ($90M sitting in CA) - didnt have time to ferrit through all the pages. They should include this as a minimum.

    Is the new tech subsidiary draining money?
    They had $4.7m in cash at half year (part of the $90m)
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  4. #3334
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    Bit strange raising funds from shareholders without really hinting at what purpose it is planned to go to. Could be a black hole developing.

  5. #3335
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    Quote Originally Posted by Schrodinger View Post
    What is the cash for? I had a quick look through the 2019 interim results, they didnt mention cash position ($90M sitting in CA) - didnt have time to ferrit through all the pages. They should include this as a minimum.

    Is the new tech subsidiary draining money?
    Quote Originally Posted by bottomfeeder View Post
    Bit strange raising funds from shareholders without really hinting at what purpose it is planned to go to. Could be a black hole developing.
    Net debt is what is pertinent - THL had $225m of net debts as at 31 December 2018.

    Probably has increased higher since then as $12.5m of dividends were paid and THL (as W69 pointed out) has been using debts to pay dividends.

    So the $90m raised is clearly to appease the banks.

  6. #3336
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    Lets hope they retire debt. Why didnt they make that plain. Doing an Israel. Funds can go to anything they desire.

  7. #3337
    Speedy Az winner69's Avatar
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    In the main announcement they did say what new capital was ...and expanded on this in presentation

    Extract-
    The equity capital raising will:
    Create additional balance sheet headroom and provide thl with financial flexibility to undertake smaller bolton acquisitions without the need to raise additional equity capital, allowing it to more quickly respond to opportunistic situations as they arise;
    Fund near term investment in travel technology opportunities through TH2; and
    Reduce debt levels and leverage, which thl considers to be prudent at this time given headwinds in some markets (e.g. USA).
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  8. #3338
    Speedy Az winner69's Avatar
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    And thl going to help their CTIC get into RVs and take China by storm
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  9. #3339
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    Quote Originally Posted by Schrodinger View Post
    What is the cash for? I had a quick look through the 2019 interim results, they didnt mention cash position ($90M sitting in CA) - didnt have time to ferrit through all the pages. They should include this as a minimum.

    Is the new tech subsidiary draining money?

    Nup...they are planning for the rainy day. The booms over...ask Chrissy Luxon if you need to know.

  10. #3340
    Dilettante
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    They should be suspending dividends

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