Confirmed, the first quote was from interest.co.nz and was an extract from their article.
Here's a link to the second quote
http://www.depositrates.co.nz/news/9...cut-to-cc.html
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Confirmed, the first quote was from interest.co.nz and was an extract from their article.
Here's a link to the second quote
http://www.depositrates.co.nz/news/9...cut-to-cc.html
Quote:
Originally Posted by NZ Herald
The Timuru Players present a Fictional Account of Events Moste Foul
{Enter Stage Left - Man in Dark Suit to sound of maniacal laughter}
{Present - Mr & Mrs H - Sitting alone in front of a small fire}
Man In Dark Suit:
'We can't find that you've done anything very wrong, although using paper rather than computers is not on, but we can't just back down, else Mr Min will look foolish.
So, if you want us to rescue the mill and actually keep it going, rather than letting it sink and having us bail out the cotton (holders), you have to let it be sold out from under you, and at the same time we'll drop the {cough} MANAGEMENT {cough}.
That way, it will *look* like we did a deal with you, dropped the investigation, and you agreed to give up mill in return, and we will be exonerated.'
{Family cat wanders in from stage right, and jumps up on Mrs H's knee}
"Sign here Mr H, or the cat gets it!"
{Maniacal laughter}
{Crash of thunder} {Flash of lightning}
{Curtain falls}
{End of Act 1}
"South Canterbury Finance's substantially diminished cash balance - which is now at a level that in our view may see the company seek additional liquidity support - reflects a combination of loan repayment delays and weaker-than-anticipated reinvestment experience and new debenture inflows."
additional liquidity support = selling more loans at discounts?
But waht does the first paragraph say
Its not hard to make an announcement - its the content of that announcement which will be important.Quote:
South Canterbury Finance chief executive Sandy Maier South Canterbury Finance chief executive Sandy Maier has reassured investors the business is on track to make an announcement about its recapitalisation by its August 31 deadline after a credit rating downgrade over its worsening cash position.