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Ann: Quarterly Activities Report and Appendix 5B, page-9

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195 Posts.

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15/02/24

22:09

Post #: 72433027
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Originally posted by goldfan: ↑

(i) The company has a limited recourse loan with OCP Asia Group (“OCP”) amounting to$40,011,000 of which is fully drawn, the interest rate is 12.00%, is calculated quarterly andcapitalised to the loan. The loan is secured over the assets of Aeon Walford Creek Limited.The loan matures on 17 December 2024.

(ii)The company maintains an ANZ Credit Card Facility totalling $30,000, with a rate of17.74%PA on purchases not paid for within the relevant period. This facility is split acrosssix separate cards, and $10,000 is undrawn.

How are they going to survive this? Basically the loan won't be paid and OCP is going to get the asset?

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withdraw the remaining 10000 on the credit card and then claim they have a limited liability.

AML Price at posting: 0.7¢ Sentiment: Sell Disclosure: Held
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Ann: Quarterly Activities Report and Appendix 5B, page-9

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