An additional $2.3 million from debt finance customers is payable to the Company following the sale of the loan book to Grapple, these funds are expected to be received over the coming quarters.
Versus
The sale resulted in a reduction of ~$50,000 p.m. in gross profit, the impact of which will be offset by cost reductions associated with the operations portfolio. Further, the sale of the loan book to Grapple resulted in the return of the Company’s committed first loss capital of ~$2.3m, a precondition requirement at the time of the establishment of the loan facility. Completion of the transaction occurred on 14 March 2025.
So did it result in the return of $2.3m cash or it might be subject to performance of the loan book? I'm confused!!!
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