Godfreys entered into a $30m million secured debt facility agreement on 29 May 2017. The facility has an initial three year term until May 2020 and is fully drawn. With a current market cap of $13.9m, a debt for equity swap would result in significant dilution of shares.
Arcade have made it clear that their intention is to take the company private and I believe they will do this as soon as possible. 33.3c per share is the best foreseeable outcome.
GFY Price at posting:
33.3¢ Sentiment: Sell Disclosure: Not Held
