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4.3¢ buddy technologies ltd

Thanks RY, have since read that section, still confused, beer...

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MickySea

641 Posts.

78

08/02/19

16:38

Post #: 37379604
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Originally posted by retiredyoung: ↑

Hi MickySea

It is in the announcement:

the Company and Luminous having entered into a loan agreement pursuant to which the LoC (detailed below) will be terminated and repaid ("Loan Agreement").

As at the date of this announcement, this LoC is drawn down to approximately US$18M.

At completion of the LIFX Acquisition, Buddy will, in accordance with the LoanAgreement, pay down the LoC as follows:

an issue of such number of Shares equivalent to US$5M to Luminous (based on the 5-dayVWAP of Shares prior to the general meeting to approve the LIFX Acquisition);

anda lump sum cash payment equal to 100% of the then-current balance of accounts receivabledue LIFX from their retail partners.

The remaining balance will be repaid no later than 31 December 2019.

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Thanks RY, have since read that section, still confused, beer o'clock...

BUD Price at posting: 9.0¢ Sentiment: None Disclosure: Not Held
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