PROSPECTIVE FINANCIAL INFORMATION (CONTINUED)
The forecast assumes that all existing term debt at May 2004 is repaid in full.
It is forecast that there are adequate finance facilities in place and available to the Company to cover its anticipated funding requirements for the forecast periods. Current finance facilities in place with the company’s bankers are three year facilities and are due for renewal in May 2007.
It is forecast that $107.0m will be received from the issue of ordinary shares on listing, based on an assumed issue price of $1.32 per Share. Significant outflows from the proceeds are forecast to include the repurchase of ordinary shares from existing shareholders of $64.7m and the repayment of bank loans of $13.1m.
The Company will pay its share of the costs (forecast to be $1,335k) directly attributable to the Offer and will be accounted for as a reduction in equity.