Was TAM really borrowing at a finance cost including fees of about 21%?
$5.3m interest and finance costs against $26m ave interest bearing liabilities is 20.3% - so 21% sounds about right. The way the finance was explained the author of the annual report seemed very embarrassed about it - as it was incomprehensible.
That was very expensive finance. At least somebody has been making money.
Any other crazy bad stuff anybody is happy to point out?
cheers
don't people know what prorata cp raising does, page-5
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