So if there is a C/R - how much will be needed, page-5

investors do know that the quantum of vessels sold in last half - was "not sufficient" to placate said banks ........

given the terms of the debt agreement (ammendments) were not made public, we is flying a bit blind.

the new major shareholder - is (imho) likely to act as an underwriter in any offer .......

as mentioned previously - the current board had better get their resumes updated .........new chap will get rid of these under performers (ie when you have 5 or 6 customers ........how do you not get paid 7m ...................unfreakenbelievable) ......

chk the Toll target statement AHS - methinks both parties have preemptive rights .....and it would require both to do a sale amd leaseback ....

rgds
V_H