Brainytoys resolves dispute with Noble Investments15:03,...

Brainytoys resolves dispute with Noble Investments
15:03, Thursday, 3 January 2008

Sydney - Thursday - January 3: (RWE Australian Business News) -
Brainytoys Ltd (ASX:BRT) has resolved a potential dispute (announced on
December 11) with Noble Investments Pty Ltd, a substantial shareholder
and secured convertible note holder, in relation inter alia to proposed
terms of conversion.
Accordingly, Brainytoys has executed a secured convertible loan
agreement for a $1m facility on the terms announced on September 4, save
for pre-approved (by Noble) additional borrowing capacity involving a
partial security waiver by Noble.
This borrowing capacity relates to the proposed borrowing by
Brainytoys from receivable financiers against receivable sums due by
customers in consideration for goods shipped or delivered, or to be
delivered in the future in the ordinary course of business (such as
confidential invoice financing and purchase order discounting).