28%?
When I read the balance sheet for the consolidated entity, total assets equate to $14.7B verses $6.2b in total liabilities.
That makes for a gearing of 42% on my numbers.
Needless to say, you are probably right. I havent had time to study its loan covenants or anybody elses. Other than i do know IOF's are around the mid 50s mark in terms of the breach rule.
what figures r we looking for, page-16
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