CDE Group Limited (ASX: CDE) has secured a 12-month AU$750,000 loan facility from Executive Chairman John Houston via J F Houston Holdings Pty Limited. This facility demonstrates Houston’s ongoing commitment to CDE, providing essential financial support to drive growth and innovation.
Key terms include a NAB reference rate plus 19% interest, 12-month repayment terms, and convertible, secured loan provisions, subject to shareholder approval. The agreement also includes a facility fee of 750 million options, exercisable at a 25% premium to the conversion price, expiring in three years, contingent on shareholder approval and a 20:1 stock consolidation. Houston expressed his confidence in CDE’s technology and team, underscoring the market potential for its solutions. The Board appreciates his support as the company continues advancing its strategic goals. This facility bolsters CDE’s position for growth and shareholder value creation.
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