NSX Limited (ASX:NSX) Secures AUD $1.6 Million Loan
Funding Update
NSX Limited (ASX:NSX) has announced the execution of a loan agreement with ISX Financial EU Plc for AUD $1.6 million. This loan aims to provide immediate working capital to support the company’s growth strategy and business development initiatives.
Loan Terms and Repayment Conditions
Repayment of the loan can be made in cash, shares, or a combination of both. Given ISXFEU’s significant ownership stake of 30.4% in NSX, any conversion to shares will be subject to review and approval processes, including ASIC clearance if the stake would exceed the current shareholding percentage.
The repayment structure allows for ISXFEU to convert the loan progressively through entitlement offers, with repayment tied to its existing holdings. If shares are issued as repayment, shareholder approval and an independent expert’s report will be required under the Corporations Act and ASX Listing Rules.
The conversion price is set at AUD $0.025 per share, or at the lowest price available if shares are issued until loan repayment.
The loan will accrue interest at the Reserve Bank of Australia’s cash rate plus four percent per annum, calculated monthly. The term for this loan agreement is set for 24 months.
Executive Approval
The loan agreement has received the approval of NSX Limited’s board of directors.
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