Ann: Convertible Loan Notes Section 708 Cleansing, page-13

re: Ann: Convertible Loan Notes Section 708 C... CFU holders might be interested to see this deal announced today for another tech co. CN are issued at 29% discount to current sp.


"Clean TeQ Holdings Limited (ASX: CLQ) today announced its entry into a Convertible Note
Subscription Agreement (Agreement) with Mr Robert Friedland.
Mr Friedland, a well-known and highly successful investor in both mining and technology-related
ventures, will make an investment in Clean TeQ of approximately $1.84 million to acquire
18,406,116 unsecured convertible notes which, if fully converted to ordinary shares, represent a
11.35% interest in the Company. The initial investment by Mr Friedland in the Company does
not require any shareholder or other approvals and will be completed immediately.
Subject to satisfactory completion by Mr Friedland of further due diligence on Clean TeQ and
approval by Clean TeQ shareholders at a General Meeting, and assuming no prescribed adverse
events have occurred, Mr Friedland will also subscribe for a further 17,317,866 unsecured
convertible notes which, if also fully converted to ordinary shares, would take his interest in Clean
TeQ to 19.9%. The total subscription price for those further notes will be approximately $1.73
million.
The convertible notes will have a term of three years (subject to acceleration upon the
occurrence of prescribed events of default and tax events), pay a 10.0% p.a. coupon and may be
converted on a one-for-one basis at any time before their maturity date..."