JBL's preliminary report was announced last Friday:
https://www.nsx.com.au/ftp/news/021737301.PDF
Note 24 - Borrowings on page 38 says the following:
(c) On 30 November 2018 JBFG, a controlled entity, entered into a senior debt facility with an external investor ('lender'). The total facility is $7,000,000 over a term of 4 years at 10.5% per annum interest. $1,749,999 of this debt is classified as a current liability with interest owing of $51,957.
The facility is secured over the assets of JBFG and provides the lender with options to purchase 1 - 1.5% of the ordinary shares of JBFG at a fixed price. The lender may either put those shares to JBFG to repurchase them in certain circumstances or hold them on an ongoing basis. As at 30 June 2019 $4,725,000 is outstanding on the facility.
Hopefully we'll soon see queries from NSX asking JBL to clarify in more detail exactly what those assets are.
JBL's preliminary report was announced last Friday:...
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