Ann: Trading Halt, page-11

I agree with the comment earlier this looks like a non event, neither negative nor positive based on what is in the notes of the annual report.
VET has been exploring its options for additional funding for a while. The new CEO and management team have been as up front as they can be, but until we see the particulars getting cold feet is completely normal given its past. Remember the CEO's background is finance.

Keep this in mind Mr Cummins has lead turn arounds like this in the past, he also did the negotiations with the banks to keep the doors open earlier this year to & renewed all the RTO's licenses. So far a pretty good year from a guy who took over a sunken ship.

See below excerpt from Annual report. DYOR.

Future profitability and cash flows
will benefit from an intense focus on executing the turnaround plan. The viability of the consolidated entity and its ability to continue as a going concern and meet its commitments as they fall due is dependent upon the consolidated entity successfully implementing the turnaround plan, proactively managing cash flows, achieving favourable outcomes for the contingent liability matters described in note 30, and being able to raise additional funds as needed.

Given the reduction in the debt
facility and changes in the covenants, management has assessed the funding requirements of the streamlined business in terms of both working capital requirements and to satisfy legacy issues. Based on this assessment, the consolidated entity is currently exploring additional funding options and believes that it has a number of potential sources (including debt, equity or hybrid funding) available to it in order to support its turnaround.

In considering all of the above mentioned factors, the Directors are of the opinion that the consolidated entity has the intent and ability to continue as a going concern and accordingly, have prepared the financial statements ona going concern basis. Furthermore, the Directors are of the opinion that the contingent liability matters will be satisfactorily resolved.