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.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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