Sure, from the 29th Jan CEO ACTIVITIES REPORT and APPENDIX 4C – QUARTER ENDED 31 DECEMBER 2015
Under “1. ACQUISITION OF SYNERGISTIC ASSETS”, paragraph 4 states:
“On 18 December, Anteo advised shareholders further on the progress of the convertible note
financing, including the payment of a €400K commitment fee to the Canadian fund. Under the terms of the financing package offered, Anteo complied with all requirements of the lender, including paying total establishment costs of €700K.”
That extra €300K just seemed to get slipped in there.
On 29 Feb in the Interim Financial Report 31 December 2015 we get confirmation of the costs under “Results for the period”
“….and Finance costs of $1.1m relating to the proposed Convertible Note Funder during the period.” €700K at 0.635 is AUD$1.1M
This was of course all on top of the €100K worth of shares issued as a “break fee”.
DYOR...
ADO Price at posting:
5.7¢ Sentiment: None Disclosure: Held
