RE: Rousseau1 Feb 2019 10:12
Strider 4. The CL you mention are there on the DGR website but if you look into the accounts they mention:
The principal terms of the convertible notes are as follows:
– Number of notes issued: 40,000,000
– Issue price: Face value of $0.20 per convertible note
– Interest rate: 12% per annum
– Interest payments: Interest paid quarterly in arrears. Interest is payable as cash in the first year, and at
DGR’s election in the second year, either as cash or by way of an issue of securities. If interest in the
second year is met via the issue of securities, this can either be notes of the same series, or (at Tribeca’s
election) DGR shares priced at the higher of 80% of VWAP, 20 cents, or 70% of NTA based on a marked
to market assessment of the value of DGR’s assets from time to time.
– Maturity date: 24 October 2019
– Conversion terms: Convertible at any time at the Convertible Note holder’s election into one ordinary
share in DGR subject to usual adjustment mechanisms in certain circumstances
– Security: Unsecured.#
and:
On 26 September 2018, DGR Global Limited announced that it had reached agreement with Tribeca
Investment Partners (Tribeca) for a series of amendments to the terms of the $10 million convertible note
funding arrangements originally announced to the market on 22 August 2017. The material terms of the
amendments agreed are as follows:
1. additional $2m in funding provided (ie. $10m now drawn);
2. the convertible note facility is now secured;
3. the entire $10m convertible note facility now matures in 2 years time, representing an effective 12 month
extension for the initial $8m in funding drawn in 2017;
4. coupon rate remains at 12% per annum, but payable in cash; and
5. conversion price remains unchanged at 20 cents per note, for all notes issued.
The Directors are not aware of any other significant changes in the state of affairs of the Group or events after
balance date that would have a material impact on the consolidated financial statements.
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