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Ann: Response to ASX Query, page-17

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ANNOUNCEMENT SPONSORED BY PLUS500
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ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 689 Posts.
    lightbulb Created with Sketch. 19
    Shame.
    I was hoping that following Catalogue's "draw down what they need" comment
    that PDF would be taking full advantage of a $1,500,000,000 draw down facility

    The ASX letter states:
    and
    Can anyone explain this in simpler terms, especially the $6,000,000 coupon part?
    The coupons are 8% interest payments at $6,000,000 p.a. which gives us an original 100% figure of $75,000,000.
    So PDF are drawing down $75,000,000?

    PDF will then allegedly purchase farms with this bond money.
    PDF will then "issue a prospectus to raise funds" as stated here:
    PDF will receive funds from the bonds as stated here:
    But the date of that settlement is unknown.
    We do know that the funds from the bonds will be received before the "issue a prospectus to raise funds" occurs.
    At that time the ASX will then again ask:
    And PDF's answer will be "via a prospectus to raise funds" ?
    If all goes according to PDF's timetable, the first half of the coupon payment ($3,000,000) will be due 7 July 2018.
    If PDF haven't raised funds via a prospectus by that date then they'll make the payment using......part of the original $75,000,000 loaned to them.

    Can somebody hold my stick while I grab the wrong end of it?
    Thanks.
 
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