Announcement marked price sensitive and regarding an extension of their loan facility - is this a way of a company technically fulfilling their duty giving a warning to investors without sounding overly dramatic?
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Announcement marked price sensitive and regarding an extension of their loan facility - is this a way of a company technically fulfilling their duty giving a warning to investors without sounding overly dramatic?
Just got credit facility upgraded to $2.5 million from $2 mill at the BNZ. So not substantial and nice to see that they are not needing to go back to the junk bond markets so big savings there.
Wow I am just going to stop paying any attention to market depth, it is very misleading.
Anyone planning to tune into the AGM tomorrow?
Virtual cookies of course
Apart from the Covid resiliency measures, key question in the AGM is bound to be around capital raising?
Question answered......see here.
Covid-19 an issue going forward, but still forecasting a profit......
Wellington’s Q1 result was an improvement on last year as the company successfully managed through the initial supply chain challenges caused by COVID-19. During Q2, the company has experienced much weaker sales estimated at around $5m for the 3 months ended 30 June 2020, compared to $17m for the same period in 2019. Nevertheless, Wellington expects to report an EBITDA profit of around $1m for the 6 months ended 30 June 2020, compared to $2.4m for the comparable period in 2019.
The key features of the Offer include:
• Raise approximately $5.4m through a 1:3 pro-rata renounceable rights issue at 5 cents per new share
• Rights will not be quoted or tradeable on the NZX. However, Eligible Shareholders are entitled to seek buyers for their rights off-market prior to the closing date of 16 July 2020
• The Offer closes on 16 July 2020 with the new shares issued by 22 July 2020