Norwood Systems (ASX:NOR) Extends Cash Drawdown Facility
Variation to Cash Drawdown Facility
Norwood Systems Ltd has entered into a sixth deed of variation to its loan agreement with Balmain Resources Pty Ltd, increasing the principal to $732,189.69. The repayment date has been extended to 28 February 2025, with an extension fee of 1.0% payable on the new principal amount.
Board Assessment
The Board continues to assess the transaction as being arm’s length as the terms are better for the Company than the prevailing market rates.
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