If they are having to tap into this... that would be enough to alarm me! I thought it was a 'worst case' that they would have to go into this...
... we await what is most likely going to be a 'company changing' announcement
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A reminder from 11 August, about the $17m cash on hand at the time and the $10m 'standby' facility, at 8% fee and 15% pa interest, expected to cover 12 months "if required" and Director satisfied that "conditions" can be met.
https://www.nzx.com/companies/WYN/announcements/287079
It would be a hell of shock if the TH has anything to do with working capital!!
The delay obviously means they are still working out a deal, but were concerned about leaks/insider trading. That suggests this is wider than just a head office deal and there are people doing more detailed DD where the info couldn't be contained with a tight circle of senior people.
How much of the company are you guys going to be owning after this announcement