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SPRINTEX LIMITED — Capital/Financing Update 2013
Jun 10, 2013
65799_rns_2013-06-10_4e4060a9-9ce9-4e58-8654-6ffcb3d87438.pdf
Capital/Financing Update
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SPRINTEX LIMITED ABN: 38 106 337 599
ASX Code: SIX
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ASX Announcement
11 June 2013
Convertible Notes
Sprintex Limited (the “Company”) is pleased to advise that it raised US$600,000 through the issue of convertible notes (“Notes”) on the following terms:
| Total Notes: | 600,000 Notes of US$1 each |
|---|---|
| Minimum conversion: | 100,000 Notes |
| Conversion price: | A$0.03 per share |
| Interest rate on Notes not converted: | 10% per annum net of withholding tax |
| Interest payments: | 7 December 2013 and 7 June 2014 |
| Security: | Secured by the R&D Tax Incentive claim |
| Maturity Date: | 7 June 2014* |
- If Notes are not converted by this time, all funds will be repaid together with accrued interest.
Conversion of the Notes into shares is under the Company’s 15% annual placement capacity.
The funds will be used as working capital for the manufacturing of the patented low emission, highly efficient Sprintex® twin screw supercharger.
Company Overview
Sprintex Limited (Sprintex) is the ISO 9001 accredited designer and manufacturer of the patented low emission, highly efficient Sprintex® twin screw supercharger which is manufactured at the Company’s state-of-the-art facility in Malaysia. Sprintex is now focusing on participation in the exponential growth underway in the global forced induction marketplace.
For further details please contact Steven Apedaile, Managing Director.
183 Mulgul Road, Malaga WA 6090 PO Box 3348 Malaga DC WA 6945 Phone: +61 8 9262 7277 Fax: +61 8 9262 7288 Email: [email protected] URL: www.sprintex.com.au