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Axtec Limited (ASX:AXI)

ALERT: Price-sensitive ASX Announcement for AXI
Current share price for AXI : $0.013 0 (0%)+
Announcement
Release
26 Jun 2026 4:21PM
Price at Release
$0.013
Full Release
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Summary
Axtec Limited (ASX: AXI) has announced an unsecured loan facility of $1,000,000 from Oriental University City Holdings (H.K.) Limited, primarily for working capital and growth purposes. The loan, to be disbursed in increments of $200,000 over five months starting June 2026, carries a 10% annual interest rate. It is slated for potential refinancing as 5-year convertible notes, conditional upon shareholder approval, with the conversion set at a premium to the company's average market price. The loan matures in five years, with an extension option, and includes standard default conditions.
Key Points
  • Axtec Limited secured a $1,000,000 unsecured loan facility from Oriental University City Holdings (H.K.) Limited.
  • The purpose of the loan is for working capital and to support the company's growth plans.
  • The loan is structured to be disbursed in five installments of $200,000 each from June to October 2026.
  • The interest on the loan is 10% per annum, payable quarterly, and the loan is not secured.
  • There is a provision for the loan to be refinanced into convertible notes, subject to shareholder approval.
  • The convertible notes will bear a 10% annual coupon and be convertible at a slight premium to the company's 30-day VWAP.
  • The loan has a maturity date of 60 months from June 2026, with an option to extend for another 60 months.
  • Events of default include incorrect company warranties, changes in legal capacity, and other financial conditions.
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.