Senior Debt EBITDA Covenant, page-9

For listed businesses a lot of these loan documents have covanent saying the market cap of the business must be over a certain percent of total debt. ....this wasn't mentioned in the directors report but that doesnt meañ it doesnt exsist. If such a clause esists it would be more worrysome than most other things as its possible. .in fact likely.....that the company will close sometime next week with a market cap under 100m with debts of 260m.....bankers can get a bit toey when they see this type of metric