SEDA Facility21 Apr 2013 08:57
Havent they got SEDA GBP5,000,000 to draw upon in times of need?
Is it that they just dont want to use it currently or are they unable to use it?
The RNS in December seems to suggest they can draw upon the facility at anytime and the terms are not too bad if we are looking to draw down a smaller sum just to see us through the immediate cash shortage created as a result of non payment of the equity issue.
If they can use it, then the immediate panic of a total failure of the company has gone and this share is certainly investible at these prices. If they cannot use it, then they need to get into some serious negotiations and its a pure punt for us investors.
Any thoughts?