If you want an opportunity to pick up a sizable number of shares at a low price have a look at NLG.You can buy 2,000,000 for $30K.It is way underpriced for the long term.The banks have given the green light for 13 months plus capital expenditure to fit out the pubs.Sure profits have fallen but so has the share price to a ridiculous price.Things did look shaky until the banks refinanced.I am surprised that it fell so I had to pick up more for the long term.A risk to reward scenario where the risk has been given a 13 month bank extension.
National Leisure & Gaming Limited (ASX:NLG) refers to previous announcements regarding its existing financing facilities which were due to expire today. NLG is pleased to advise that the Company has successfully extended its existing financing facilities with Bank of New Zealand Australia (BNZA), a business division of National Australia Bank Limited, until 31 July 2009. The extended facilities include approval for a CAPEX facility which, importantly, will allow NLG to continue its capital works program. The board of NLG appreciates the support of BNZA in its ongoing operations
NLG Price at posting:
0.0¢ Sentiment: None Disclosure: Held