Post by
Froggy1 on May 27, 2021 8:43am
Note 12
OK I just read note 12 of the annual statement. Mark to market is all tied up in something called tangible equity units. Basically it was a way of funding a $1 billion loan by offering 15.5 million tangible equity units. In so far as the share price is below $50 US they have to book a loss. It's very confusing, I believe it is intended to be very confusing. For the year end December 31, 2020 they booked a $449m Mark to market loss. I think they can also book a profit on it.
Am I the only one who reads annual statements?