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1.6¢ kalina power limited

Ann: KPO Entitlement Offer Dispatched, page-28

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1,316 Posts.

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30/11/23

09:26

Post #: 71185433
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Originally posted by Surandy70: ↑

Looks like page 26 holds part of the reason for the suspension:

On or around 3 November 2023 the Company entered into an unsecured loan agreement (Loan
Agreement) with Sinalunga Pty Ltd (Sinalunga) whereby Sinalunga agreed to loan the Company
an amount of $250,000 (Loan) with the proceeds to be used for the Company's working capital
requirements. The Loan Agreement is to be repaid by 1 January 2024, with a default interest rate
of 10% per annum

Also found on page 17 the reason why the directors have not stated whether they'll all take up their full entitlements, and probably the reason why Ross and Stephen are happy to sub-underwrite so much:

The New Shares (and Additional New Shares) under the Entitlement Offer are not being offered or sold to
the public other than to existing shareholders with registered addresses in Australia and New Zealand.

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Sinalunga is yet another ball in the air. A fair chunk of the capital raised will go to repaying the loan. Then what?

KPO Price at posting: 0.4¢ Sentiment: None Disclosure: Not Held
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