All the retailers were allowed access back to the premises for all of last week to prepare for Level 3 this week, so there was a lot more activity on the roads.
postponing results , due to talking to lenders. must be looking to strengthen there balance sheet , debt ratios
as expected , of course this capital raising is only enough capital to carry them up till 22 yr cause there basing things back to normal by then. if things are still not good by then debt levels will be still high and dividend will be postponed for more years.
people who thought this was a safe company for dividends have seriously done there dough. it always was a dividend trap stock
I don't own this but follow it and the result is a shocker....feel sorry for holders.
No real option but to take up the equity offer and wait 18 months for dividend reinstatement
I don't know why NZ companies like to think USPP's are a good idea, supposedly to diversify funding etc
All they do is hold your nuts over the fire whenever there's any trouble and force deeply discounted equity raises imho.
Raising $350m new capital when current subscribed capital is $430m (with along with $170m revaluation reserve of $170m gives total equity of $600m) is pretty telling
And still heaps of debt will remain
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Raising $350m new capital when current subscribed capital is $430m (with along with $170m revaluation reserve of $170m gives total equity of $600m) is pretty telling
And still heaps of debt will remain
and the raising is to be kicked off at $2.75? I wouldn't pay $2 for the shape Z Energy is in... income uncertain and in recovery mode for the next few years, no dividend now till (crossing fingers) FY22 and dividends unlikely to be as big as they were for a very long time, 6 cent NTA topped off by a terrible balance sheet post capital raising (putting it lightly)
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Originally Posted by bull....
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