Ann: Hills Market Update-HIL.AX, page-8

Badly worded ASX announcement, but should be read as very positive given what the market was effectively saying on the back of 13c s/p (i.e. More earnings downside, failed banking event etc).

It would (now) be very hard for HIL's to undertake a CR to support the new banking facilities having advised the market its "on track".

They surely couldn't say "on track" to sign new banking facilities if they expected to now raise new capital as a condition of the new debt facilities. CR is not a condition a company can casual just assume will happen "on track. And especially not something HIL's could easily expect to be supported.

Looks like 2H16 EBITDA and FCF are ahead of market expectations and satisfactory to HIL's bankers, together with Mgt's FY17E estimates???