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COMMS GROUP LTD — Capital/Financing Update 2024
Aug 15, 2024
64618_rns_2024-08-15_ffa66314-561a-41e2-acd2-5baf6ffd7dfa.pdf
Capital/Financing Update
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ASX RELEASE 16 August 2024
CBA TERM LOAN AND BANK FACILITY EXTENSION
Comms Group Limited (ASX: CCG) advise that it has successfully renewed its Term Loan and other facilities with the CBA.
Key changes to the renewed facility are as follows: Term loan limit: $7.6M (previously $8.25M) Facility expiry date: August 2026 (previously February 2025)
The Company has reduced its Term Loan facility limit to be in line with the current drawn balance and cancelled the Bank Overdraft facility and replaced it with a Temporary Excess Facility that will save significant lines fees on undrawn balances.
Authorised for release by the Board of Comms Group Limited.
ENDS
FOR MORE INFORMATION Peter McGrath Matthew Beale Chief Executive Officer Chief Financial Officer [email protected] [email protected]
ABOUT COMMS GROUP
Comms Group provides a full range of IT and Communications services from the Cloud including IT managed services, cloud hosting, cloud communications and UcaaS services.
The company is delivering on its three key strategic growth pillars of International, Domestic - through the Next Telecom and onPlatinum brands and Wholesale and Partner services.
Domestic SME/Corporate Services (branded Next Telecom and onPlatinum) – domestically the group delivers a vast array of comms services for businesses including, data services (Fibre, NBN), IP voice, inbound/toll-free, wrapped into an award-winning state-of-the-art service layer as well as an extensive range of ICT services including managed IT services, cloud and security services.
Global Services (branded Comms Group Global) – Comms Group Global uses its cloud based global business phone platform and its global Microsoft Teams telephony calling platform to provide fully managed key UCaaS and CPaaS services for customers in multiple regions internationally. We cover 65 countries for full PSTN replacement and another 30+ countries via on premises solutions/carrier partners.
We also offer key wholesale services and leverage our international network to deliver services to key wholesale and partner customers globally.