Woweee - talk about reemed! To summarise in return for waiving the Feb2020 interest payment (now deferred to Feb2021), waiving the covenant breach and extending the debt term out for a further 3 years (at same interest rate) the company has given the debt holders...
1. a 5% of principal fee (circa A$13m) payable in October.
2. A US$1.6m waiver fee, payable within 60 days
3. 9.9% of the equity of the company
Then they’ve further diluted at 5cps for equity raise.
Ouch... that’s gona hurt
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1 | 19200 | 0.028 |
1 | 20000 | 0.027 |
2 | 123075 | 0.026 |
2 | 100000 | 0.025 |
Price($) | Vol. | No. |
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0.035 | 95671 | 4 |
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