BPH Global raises $130,000 in debt funding
Released
Released
Announcement PDF
BPH GLOBAL LIMITED
ACN 009 104 330
31 July 2024
Company Announcements Platform
Australian Securities Exchange
BPH Global raises $130,000 in debt funding
BPH Global Limited (Company) announces that the Company has entered into loan
agreements to raise $130,000 to provide short term funding to the Company pending
completion of its proposed capital raising of up to $1,000,000. The proposed capital raising
was approved by shareholders at a general meeting held on 24 May 2024.
Pursuant to the loan agreements, the four directors of the Company will each provide loan
funding of $25,000 to the Company and a non-related party will provide an additional
$30,000. The funds raised will be used for working capital purposes.
The key terms of the loan agreements are set out below:
Commencement/Effective date
Repayment date
Currency of the loan
Security
Guarantee(s)
Interest rate
Term and repayment arrangements
9 August 2024 or such earlier date that the
lender provides the loan principal amount
to the Company.
9 February 2025 or such other date to be
mutually agreed between the lender and
Company
AUD
Unsecured
No guarantees
12% p.a.
Principal and interest to be paid by 9
February 2025 or such other date to be
mutually agreed between the lender and
Company (Repayment Date). If the Loan
Principal and/or the accrued interest is not
paid by the Company to the lender by the
Repayment Date, the outstanding Principal
Amount and/or unpaid interest at that date
will be capitalised together with all
additional unpaid interest subsequently
accruing, and interest will be charged on
the principal amount plus capitalised
interest until the principal amount and all
accrued interest has been repaid.
Interest charges and payments
Interest accrues from the Commencement
Date.
Interest is payable on the Repayment Date
or at such other date by mutual agreement
of the lender and Company.
Fees
Nil
This announcement has been authorised by the Board of Directors.
- END For further information, please visit our website at www.bp8global.com or contact:
Mr Paul Stephenson
BPH Global Limited
Chairman
E: pauls@bp8global.com
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