VIL - Veritas Investments Limited

[winner69]

All fixed up

Veritable going to become a growth company in a vibrant commercial sector

It’s all on now

https://quoteapi.com/resources/da986...8NuPt_gBHTuits

[winner69]

‘GROWTH’ used 5 times in the short announcement along with nice phrases like ‘significant growth’, ‘buoyant’, ‘potential’ etc ...and even profit a few times

[winner69]

Suppose when you are in deep **** you have to give a fair bit away to get out of it

The term of each tranche is three years and interest is payable quarterly at the bank bill rate plus a margin of 6.5% per annum.

A fee of 2.5% of the total amount of the facilities is payable to Nomura on draw down

an exit fee is payable on expiry or repayment in full of the facilities, of the greater of 1% of the total amount of the facilities or 2% of the principal amount outstanding at the time of expiry or repayment.

As part of the refinance, Veritas has also agreed to grant warrants to Nomura which give Nomura the ability to acquire up to 19.9% of the ordinary shares in the company for no consideration. The warrants may not be exercised during the first year after they are granted, and expire on the date that is three years after their grant date.

[whatsup]

Yeh right , growth company in what, grog sales in night clubs are falling now .

[Beagle]

Wow those terms are frightening. Obviously a lender of last resort. Who would trust the current management and directors to add value from here under those terms given their past shocking record ?

[steveb]

Suppose when you are in deep **** you have to give a fair bit away to get out of it

The term of each tranche is three years and interest is payable quarterly at the bank bill rate plus a margin of 6.5% per annum.

A fee of 2.5% of the total amount of the facilities is payable to Nomura on draw down

an exit fee is payable on expiry or repayment in full of the facilities, of the greater of 1% of the total amount of the facilities or 2% of the principal amount outstanding at the time of expiry or repayment.

As part of the refinance, Veritas has also agreed to grant warrants to Nomura which give Nomura the ability to acquire up to 19.9% of the ordinary shares in the company for no consideration. The warrants may not be exercised during the first year after they are granted, and expire on the date that is three years after their grant date.

Desperate times require desperate measures,looks like they just shot themselves in the foot.Even if they do well they still lose

[winner69]

Desperate times require desperate measures,looks like they just shot themselves in the foot.Even if they do well they still lose

Still have a job though .....for how long?

[Beagle]

Still have a job though .....for how long?

That's it really. Management and directors just keeping themselves in overpaid jobs with no proof they can ever add value for poor beleaguered shareholders who are on a one way train trip to nowhere.

[Sideshow Bob]

Hey, share price is up 40% today - Happy Days and Blue Skies!!

[steveb]

Hey, share price is up 40% today - Happy Days and Blue Skies!!

Don't pull the cork yet it's only $14K worth