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PEET LIMITED — Capital/Financing Update 2013
Aug 25, 2013
65600_rns_2013-08-25_1b7f025d-03ef-4665-ac1f-5923770fe00a.pdf
Capital/Financing Update
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26 August 2013
Australian Stock Exchange Announcement
The Manager Company Announcements Office Australian Stock Exchange 20 Bridge Street SYDNEY NSW 2000
FINANCE FACILITY EXTENSION
The recent takeover of CIC Australia Limited (CNB) by Peet Limited (PPC) triggered the change of control provision in the company’s Multi Option Facility (MOF) with St George Bank. As a result CNB was required to repay the full facility by 30 September 2013.
CNB is pleased to announce the extension of this MOF. The extension includes quarterly step-downs in the facility limit through to expiry on 1 July 2014. CNB expects it will have the available cash flows from operations to meet these stepdowns. As a condition of the extension, CNB will not pay any dividends to shareholders.
As at the date of this announcement, the amount drawn under the MOF is $24.2 million and the facility limit is $37m.
Issued by CIC Australia Limited
Contact: M Andrews Company Secretary Telephone 02 62 300 800 Fax 02 62 300 811 Email: [email protected]