Under the new facility, SkyNetGlobal will repay the A$850,000 loan through the issuance of A$25,000
in shares every two weeks between 5 May 2005 and 17 August 2006. The shares will be priced at a
6% discount to the lowest ASX closing price in the 5 trading days prior to the payment settlement day.
The loan includes an interest rate of 12% per annum. Until the loan principal is fully repaid,
SkyNetGlobal will not draw down additional capital from its existing Cornell credit facility.
SKG
skynetglobal limited
Under the new facility, SkyNetGlobal will repay the A$850,000...
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