did i read the announcement right, page-10

I agree with Asteroider - it all comes down to how much the banks want to screw AEZ. You can bet they will be wanting more security (over the whole portfolio?) and may charge a higher margin on any new loan arrangements. They will also probably want first take on the distributions.

AEZ are doing a strategic review of capital needs - spin for "we have to raise capital".

Don't rely too much on NTA. A capital raising will surely reduce it further.

At the risk of sounding gloomy, I don't see much for existing shareholders for a long time. Best outcome for us will be sale of assets at a reasonable price if at all possible.