....unless net rental assets is simply that! At 30 June (from today's AR) net rental assets were $296.395 and the ratio would be 296.395/(497.575-29.265); which equals 63.29%... take out the cash.
If the run off of the GoGetta rental book impacts both numerator and denominator by the same amount then the ratio decreases. The covenant is therefore saying "no more rental asset impairements". ! Makes perfect sense!
....unless net rental assets is simply that! At 30 June (from...
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