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FINDI LIMITED — Capital/Financing Update 2022
Nov 10, 2022
64934_rns_2022-11-10_943f4a04-c171-4635-994e-67272b814df6.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT 11 November 2022
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Findi & Pure Asset Management mutually agree to terminate loan facility
Findi Limited (ASX: FND) (Findi or the Company) announce it has mutually agreed to terminate the $10m secured term loan facility with PURE Asset Management Pty Ltd (refer ASX announcement 18 August 2022 and 19 August 2022).
The decision was made due to the continued improvement in the operational and financial performance of Findi, and an expectation of other non-dilutive funding to be received.
Findi’s Non-Executive Chairman Nicholas Smedley said: “We’d like to express our gratitude to the team at PURE, who showed its confidence in what we’re doing at Findi by agreeing to the loan facility. That being said, circumstances have changed which makes terminating the agreement the best course for the Company moving forward.”
Findi will not be liable for any break-free, and the proposed issue of 222,222,222 warrants to PURE will not proceed.
Findi recently completed a successful $2.8m placement at $0.40 per share (refer ASX announcement 18 October 2022), as well as announcing that its contract with the State Bank of India had been extended through to 31 December 2023 (refer ASX announcement 24 October 2022).
Authorised for release by the Board of Findi Limited
| Nicholas Smedley | Andrew Metcalfe |
|---|---|
| Chairman | Company Secretary |
| 0447 074 160 | 0412 125 090 |
| [email protected] | [email protected] |
Level 4, 90 William St, Melbourne, Victoria, 3000, Australia https://findi.co/ [email protected] ABN 98 057 335 672