Why Transaction Capital’s share price has been slashed by more than half in the last two weeks. Taxis petrolprice
To understand what led to Transaction Capital’s share price being slashed by more than half in the last two weeks, you have to look at what is happening in the minibus taxi market. At a presentation on Thursday, outgoing CFO Sean Doherty laid out the stats that prompted the group to warn that profits from continuing operations could fall 41-46% in the current six-month period to March 2023.
Chief investment officer Mark Herskovits detailed the group’s funding structure, explaining that there have been no breaches of loan covenants nor any defaults. He said there is no possibility that default in one of the subsidiaries would contaminate any of the other subsidiaries. The group’s complex funding structure, with varying asset and liability maturity profiles sourced from a wide range of funders, is deliberate.
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