Overall, the Aveng order book, which stands at R17.9-billion, has decreases by 28% since December 31, when it was valued at R25.1-billion. Nevertheless, Diack says he is the most optimistic he has been for two years about Aveng's future prospects, arguing that its strengthened capital structure provides a "solid platform" for turning around the group's fortunes. He acknowledges, too, that this platform is the result of sacrifices made by shareholders, bondholders and lenders, which enabled the group to complete a R493-million rights issue, pursue the early redemption of R2-billion convertible bond and extend the term of bank debt to 2020. The bond buyback has been funded through a new debt instrument of R460-million, with the remaining R1.4-billion settled through the issuance, on September 25, of new Aveng shares, priced at 10c a share.