Ann: FNP Equity Raising Presentation, page-5

If you look at p.18 of the prezzo, it shows total borrowings of $141,234,000 as at 31.12.17, then that appears to be reduced by $100,000,000 as a result of the raising, leaving $41,234,000 in total borrowings post raising. Net debt takes into account cash at bank, but looks like there will nonetheless be about $41m in borrowings still to service.

Not that I'm complaining about paying down debt, just interesting that they didn't mention that as one of the uses on some of the "dot point" slides, given that about half of the capital to be raised will be put towards that purpose... any thoughts on why?