re: Ann: US$75M Investment by Standard Charte... MalmanuYou did...

re: Ann: US$75M Investment by Standard Charte... Malmanu

You did not read the balance sheet correctly. It is clear that you did not read the notes to the balance sheet. In fact I wonder if you can read at all. No wonder you claim there is no transpency.

There is $119m in unrestricted cash.
There is also $192m of restricted cash.

Meaning there is net debt of $40m.

The restricted cash is held in reserves to repaid and service the debt.

To summarise:

$75m SC revolver - fully drawn; $75m held in restricted reserve accounts to repay this.

$200m PTES non recourse facility SC/Mizuho (also the french and german government) - $142m drawn, $23 held in resticted reserve accounts for servicing this.

$88m EEES facility SC/Mizuho - $82.5m drawn, $42m in stricted reserves accounts for debt dervicing

$51m HSBC revolver - $50.5m drawn, $51m held in restricited reserve accounts to repay this.

So in total the debt looks like:

PTES non resourse debt secured against the ppa $119m
EEES debt $40m secured against the psc.

Less unrestricted cash $119m

Net debt $40m

On a recourse basis there is actually $80m net cash.

Is there any bit of this you still fail to understand? You know how non-recourse debt works? Does someone need to lead you through that as well?

Jesus wept. what a moron.