Lifestyle Communities Ltd (AU:LIC) has released an update.
Lifestyle Communities Limited (LIC) has stated that the increase in its Interest Cover Ratio (ICR) covenant from 1.5x to 2.5x, following a methodology change for EBITDA calculation, is not material and therefore not expected to affect its stock price. The change aligns LIC with industry practices and was made alongside other non-material modifications that did not impact the company’s operations or growth plans. The adjustments were disclosed at the Macquarie Conference on May 7, 2024, as part of a general market update.
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