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DEVELOP GLOBAL LIMITED — Capital/Financing Update 2008
Nov 26, 2008
64801_rns_2008-11-26_97145563-4815-41c7-b7af-692fab187471.pdf
Capital/Financing Update
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A S X C O D E : J U T
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27 November 2008
Converting Loan Agreements
For further details:
Dr Tim Sugden Managing Director T: +61 8 6424 9186 M: +61 407 085 032 E: [email protected]
Further to the announcement released on 14 November 2008 regarding Jutt Holdings Limited’s Restructuring and Capital Raising Plans, the Company is pleased to have progressed its funding initiatives through the execution of four converting loan agreements to the total value of $500,000 to provide for immediate working capital. The converting loan agreements have been issued in place of the convertible notes referred to in the previous announcement on 14 November 2008, on the same terms referred to in that announcement.
Subject to Shareholder approval, the loans will convert directly to shares at the conversion price of one cent per fully paid ordinary share.
All Shareholders will have the opportunity to support the Company's growth plans through the upcoming Entitlements Issue, also priced at one cent per share.
Board
Allan Trench Non-Executive Chairman
The Company is currently finalising the required Notice of Meeting and Entitlement Prospectus.
Tim Sugden Managing Director Michael Mulroney Non-Executive Director
Liza Carpene/Phillip Hains Joint Company Secretary
TIM SUGDEN Managing Director
Contact Details
Registered Office: Suite 1, 1233 High Street Armadale VIC 3143 T: +61 3 9824 5254 F: +61 3 9822 7735
Perth Office: Ll 1, 35 Richardson Street West Perth WA 6005 T: +61 8 6424 9188 F: +61 8 9463 7836 E: [email protected] W: www.juttholdings.com ABN: 28 122 180 205