Tivan Limited (ASX:TVN) Completes Early Redemption of Convertible Notes
Convertible Notes Redemption
Tivan Limited has completed the full redemption of the initial tranche of $3.3 million in convertible notes issued to SBC Global Investment Fund ahead of the maturity date.
Financial Impact
The final cash payment to SBC amounted to $176,478, with $305,885 in Tranche 2 convertible notes remaining on issue.
Executive Comments
Mr Grant Wilson commented:
“The Convert provided an important source of bridging finance in Q2 last year. We are pleased to now be in a position to retire the instrument, strengthening Tivan’s balance sheet and removing a persistent supply of shares in the secondary market over the past year. We extend thanks to L1 for their professionalism throughout.”
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