To meet the Company ’s interim working capital requirements Tennyson has borrowed,at the date of this letter,a total
of $45,000 from Neoside under a loan facility agreement entered into on 8 August 2003 and may borrow up to
$2 million in total from Neoside up to the date of the general meeting.The proceeds of the proposed share issue to
Neoside will be used to retire the amount outstanding under this facility agreement,including accrued interest.This
interim loan is repayable within 90 business days if shareholder approval is not obtained and the share issue does
not proceed.
The funds to be raised under the placement to Neoside are critical to the ongoing operations of Tennyson ’s business.
Without these funds,Tennyson would require urgent funding from an alternative source.Should alternative funding
not be immediately available,the directors of Tennyson would need to consider whether Tennyson should be placed
into voluntary administration.
Page 3 of Ann. 30/9.. this should get the kicking this dog needs wed. morning.
- Forums
- ASX - By Stock
- time for this dog to be put to sleep
time for this dog to be put to sleep
-
- There are more pages in this discussion • 3 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)