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COKAL LIMITED — Capital/Financing Update 2018
Oct 25, 2018
64656_rns_2018-10-25_b359c781-5790-44fa-990f-39ee007d5931.pdf
Capital/Financing Update
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T +61 2 8319 9299 E [email protected]
Level 5, 56 Pitt Street, Sydney NSW 2000 ABN 55 082 541 437 (ASX: CKA)
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ASX ANNOUNCEMENT / MEDIA RELEASE 26 October 2018
Balance of Magna Convertible Notes to be Repaid in Cash and Not Converted to Shares.
Cokal Limited (Cokal ASX:CKA, “Cokal” or “the Company”) advises that the balance of the Convertible Notes held by MEF I, L.P. (“ Magna ”) will be repaid in cash, not converted to shares.
In October 2017, Cokal entered into a Convertible Note Agreement with Magna. The Company advises that Magna will not be converting the remaining 147,234 Convertible Notes and that the Company has agreed to repay the Convertible Notes outstanding, totalling USD186,251. Recently, Cokal has paid AUD50,000, leaving a balance of approximately AUD210,491 to be paid by the Company in the near future.
This will fully conclude arrangements with Magna.
ENDS
Further enquiries:
Domenic Martino Non-Executive Chairman E: [email protected]
About Cokal Limited
Cokal (ASX:CKA) is an Australian listed company with the objective of becoming a metallurgical coal producer with a global presence. Cokal has interests in four projects in Central Kalimantan, Indonesia considered prospective for metallurgical coal.
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26 October 2018
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