Originally Posted by
ronaldson
Announcement today that ASB's $23m bridge facility has been extended to 31 January to allow for settlement of the Arran Court facility sale ($19m net) begs quite a few questions.
First the Arran Court sale is only conditional.
Secondly there is no mention of the $10.5m vendor loan obligation (at 18%!) relating to the Matamata acquisition, due 23 October 2023 and the further $1m loan (also at 18%) borrowed from a related party to director Brien Cree also due on 23 October.
So clearly the fate of this company is now in the hands of others and hanging by the proverbial thread.