Ann: Reinstatement to Official Quotation, page-86

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jcallaway

482 Posts.

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31/12/20

03:32

Post #: 49874858
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Originally posted by Gucci: ↑

One question why this?

”In addition to the above, the Company has entered into agreements to accept loan funds from the following sophisticated investors of $2,400,000a) W & P Coe Pty Ltd agreed to lend the Company $150,000, repayable in cash in 3 months;(b) Anathema Pty Ltd agreed to lend the Company $200,000, repayable in cash in 12 months;(c) Grant Edwards Pty Ltd agreed to lend the Company $1,000,000, repayable in cash in 6 months;(d) Mrs Joy Elaine Hordern agreed to lend the Company $400,000, repayable in cash in 12 months;(e) Mr Anthony Phillip Hordern agreed to lend the Company $500,000, repayable in cash in 12 months;(f) Mrs Rong Xie agreed to lend the Company $50,000, repayable in cash in 12 months; and(g) Mr Peter Karas agreed to lend the Company $100,000, repayable in cash in 6 months.At any time after a minimum term of 3 months, the Company may repay any of the loans prior to the maturity date, subject to payment of a 2% early repayment fee. Lenders are entitled to interest at 20% per annum, payable monthly in arrears. The Loans are unsecured. As at the date of this announcement, the Company has received $1,762,500 (being $1,900,000 net of a 6% fee payable to Viriathus Capital Pty Ltd (Viriathus) for facilitation of the loans), with the remaining $493,500 (being $500,000 net of the 6% fee payable to Viriathus) expected to be received by close of business 17 December 2020.”

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As The Bard wrote ...I await your next financial sleuthing message with "Bated breath".

But something tells me that when you posted this great insight....you already knew what next....... you would say.

Perhaps opine on the rights of any Note Holder in a Bankruptcy.

The Forum ..ney ...the Company....is better positioned by your clarity.

Thank you.

NET Price at posting: 4.7¢ Sentiment: None Disclosure: Not Held
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