No short-term financing overhang11 Nov 2017 18:57
"Financing activities Bellzone announced a new US$4.0m loan facility with Hudson Global Group (�Hudson�) in December 2016 to finance its operations through FY2017.
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Strict cost discipline (detailed below), resulted in a delayed initial draw down of US$0.8m in June 2017, and as Bellzone continues to run ahead of budgeted costs, no further draw downs have yet been necessary.
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*** To remove any potential short-term financing overhang, Bellzone agreed first with CS International (S) Pte Limited in July 2017 and then with Hudson in August 2017 to extend loan maturity dates of all three outstanding loans to 31 December 2018. ***