We are currently endeavouring to source new equity investor. However, you would also acknowledge that sourcing an equity injection by way of either a financial or strategic investor would also prove difficult if those funds were to be directed principally toward debt repayment. We are certain that a new investor would seek to invest in the assets of the Company rather than its liabilities and so your offer to extend the tenor of your facilities would be of great assistance.
However, in the situation where an investment by way of new equity cannot be sourced we prefer that the company maintains its current status as a performing loan as classified by the WC lenders so that the alternative of interest rate and /or principal cuts and /or deferrals must be considered.