MAD
14/09/2015 08:30
GENERAL
PRICE SENSITIVE
REL: 0830 HRS Energy Mad Limited
GENERAL: MAD: $0.5 million SuperLife Loan Facility to Fund Growth
Media Release 14 September 2015
$0.5 million SuperLife Loan Facility to Fund Growth
Energy Mad has secured a $0.5 million Loan facility from SuperLife, a major
shareholder in the Company.
The Loan Facility lets Energy Mad support its growth initiatives for New
Zealand and Australia.
The key features of the Loan Facility are:
- It is for a maximum of $0.5 million.
- It can be drawn down as required by Energy Mad.
- It has a term of two years with an option for Energy Mad to extend it by
one year.
- It is interest only. The interest rate on the amount drawn down is 14.0%
p.a. for the initial two-year period, calculated on a quarterly basis in
arrears rising to 15.0% p.a. for the third year.
- Energy Mad can repay the drawn down amount of the loan facility at any time
prior to the end of the loan in multiples of $50,000.
ENDS
For More Information Contact:
Chris Mardon, Managing Director
(021) 041 2981
End CA:00270055 For:MAD Type:GENERAL Time:2015-09-14 08:30:04
