When you spoke with them did they say they believe buybacks etc. could start taking place from FY19?
Only ask because the loan documentation stipulates share buy-backs and dividends can't recommence until both of the following are achieved:
* Gross debt / EBITDA (trading) below 2.5x in preceding 12 months
* Gross debt is less than $40m.
Depending on trading, and timing in getting settlement funds and legal costs recouped from the litigation re Sherrin, BOL could get gross debt below $40m by the end of FY18.
Getting gross debt / EBITDA (trading) below 2.5x by end of FY18 might be more difficult. It might possibly depend on what BOL could get the bank to sign off on as being a non-trading expense when calculating EBITDA (trading) after FY18 year end and covenant testing.
Ann: Full Year Results - Investor Presentation, page-22
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14.0¢ |
Change
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Mkt cap ! $60.80M | |||
| Open | High | Low | Value | Volume |
| 14.5¢ | 14.5¢ | 14.0¢ | $18.98K | 135.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 173364 | 14.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 14.5¢ | 278210 | 4 |
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