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TZ LIMITED — Capital/Financing Update 2019
Mar 18, 2019
65975_rns_2019-03-18_7bf18055-dd81-427a-9146-dc5ec4a10ce8.pdf
Capital/Financing Update
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Level 11, 1 Chifley Square Sydney NSW 2000 Australia Telephone (+61) 2 9222 8890
www.tz.net
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TZ Limited
ABN 26 073 979 272
19 March 2019
ASX Announcement
INCREASED LOAN FACILITY
TZ Limited (“TZ” or the “Company”) (ASX Code: TZL) is pleased to announce today that the Company has increased the size of its existing debenture deed facility with First Samuel Limited (“First Samuel”) by $2,000,000, providing the Company with a total secured loan facility of up to $9,000,000 (“Loan Facility”).
The increased facility provides the Company with access to additional operating capital and a safeguard in the event of cash flow challenges from the phasing of cash outlays and collections from customers due to its predominantly project-driven business.
The increase comprises two revolving tranches of $1,000,000 that can be repaid and redrawn if repayments are made before the end of the term. In total, $5,000,000 of the Loan Facility can be redrawn if repayments are made before the end of the term.
The interest rate applicable to the additional facility is 90 day BBSW plus 9% per annum, payable six monthly in arrears.
Of the $9,000,000 Loan Facility, $6,000,000 matures on 5 May 2020 and $3,000,000 matures on 13 June 2020.
The Loan Facility is secured by a first ranking security interest over the assets of the Company and its subsidiaries. The Company currently has no indebtedness under any other loan facilities. There are no loan covenants in respect of the loan facility.
For further information, please contact:
John Wilson Craig Sowden Managing Director Company Secretary 02 9222 8890 02 9222 8890
About TZ Limited
TZ Limited (“ TZ ”) is a technology company that is listed on the Australian Securities Exchange. TZ is the leader in SMArt Device™ technology combining state-of-the-art SMA actuated intelligent fastening and locking devices with TZ remote software control. TZ’s systems deliver asset level protection and compelling solutions for security, monitoring and control applications across a number of market segments. The Company currently supplies market leading solutions to major corporations worldwide to the Data Centre industry and in the Automated Parcel Locker and E-Commerce market.
For additional information on TZ Limited, please visit www.tz.net.
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