MPS another big "Fail" or was it just a way to repay the underwriter.....ASIC fails again.
The investment consists of an allocation of 25 million shares for 5.5% shareholding in Marketplace Services Pty Ltd. Xped has also provided a loan of $350,000. Tranche 1 of $175,000 has been provided. A second Tranche of $175,000 will be provided on or before 1 January 2018. Xped has the option to convert the loan as equity in the business. This total loan of $350,000 is convertible into a further 12% equity of MPS on or before 1 December 2019.
Ann: Company Update, page-7
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