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50.5¢ leo lithium limited

Ann: CEO Remuneration Update, page-102

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GARETH78

8,391 Posts.

2981

19/06/24

15:53

Post #: 74393820
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Originally posted by fooca: ↑

From the original announcement:
https://announcements.asx.com.au/asxpdf/20240508/pdf/063c56gjw9h080.pdf

US$17.2 million payable on 30 June 2025 or an earlier date (Tranche 2 Cash Consideration). Interest of SOFR + 2% to accrue on the unpaid Cash Consideration from the completion date until the Tranche 2 Cash Consideration is paid in full to Leo Lithium. There are no penalties for early repayment.

As per conversations with the Company, they can pay it earlier (as above) or make instalments, it is an interest bearing debt.
Current SOFR is 5.33% + 2% - Interest on US$172.2 million (that will be accruing) would be circa US$34,580 a day and starts when tranche 1 is received.

cheers
@ssm being a gambling man, I would put money on Ganfeng paying down the debt sooner unless there is benefits somewhere.

ps I will enquire when I next have a conversation with the Company for clarity

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The sooner the coin is in the till and distributed the better, may well outperform the market.

The last Lithium downturn lasted around 800 days. That takes us well into early 2025.

LLL Price at posting: 50.5¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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