Pilbara Gold Limited (ASX:PGL)

ALERT: Price-sensitive ASX Announcement for PGL

Current share price for PGL : $0.505 (n/a)⁺

Announcement

PGL Business and Scheme Update

Release

8 Jul 2024 4:30PM

Price at Release

n/a

Full Release

Summary

Prospa Group Limited (ASX:PGL) has released an unaudited trading update for the quarter ending 30 June 2024, revealing a 4% decrease in quarterly originations compared to the prior corresponding period, and an 18% decline in total FY24 originations compared to FY23. Despite a challenging macroeconomic environment, Prospa ended the fiscal year with $127 million in total cash, and an increase in secured funding capacity to $956 million. Additionally, an update was provided on the Scheme of Arrangement with Salkbridge Pty Ltd, clarifying changes to the ownership structure and the retention of shares by certain Consortium Members.

Key Points

Quarterly originations were $149 million, a 4% decrease on the prior corresponding period
FY24 originations totaled $616 million, 18% down on the prior corresponding period
Closing gross loans ended the year at $796 million, an 8% decrease
Prospa had access to $956 million of secured funding, a 4% increase
Total cash at year-end was $127 million
Scheme of Arrangement with Salkbridge Pty Ltd will proceed with changes in ownership structure
Certain Consortium Members, including Tubbin, may retain their shares in Prospa
The Independent Board Committee recommends that shareholders vote in favor of the Scheme

IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.