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Propell Holdings Limited (ASX:PHL)

ALERT: Price-sensitive ASX Announcement for PHL
Current share price for PHL : $0.009 -0.002 (-18.18%)+
Announcement
Release
19 Mar 2025 10:08AM
Price at Release
$0.011
Full Release
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Summary
Propell Holdings Limited has secured an extension to its Convertible Note Deed, moving its maturity date from February 28, 2025, to May 15, 2025. This extension was agreed upon by the noteholder, who will not take any action regarding the deed during this period. The company is actively seeking alternative financing solutions to repay the amounts owed by the new maturity date, contingent on a successful delisting process. Failure to obtain necessary funding may lead to the enforcement of rights under the Convertible Note Deed.
Key Points
  • PHL has negotiated an extension to its Convertible Note Facility to 15 May 2025
  • Extension allows Propell to complete its delisting process and identify alternative financing arrangements
  • The noteholder will not take any action under the terms of the Convertible Note Deed during the extension period
  • The company is seeking alternative financing arrangements to repay amounts owed under the Convertible Note Deed
  • Failure to secure funding may result in the noteholder enforcing its rights
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.