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BSA Limited (ASX:BSA)

ALERT: Price-sensitive ASX Announcement for BSA
Current share price for BSA : $0.300 0.005 (1.69%)+
Announcement
Release
9 Jun 2026 8:34AM
Price at Release
$0.295
Full Release
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Summary
BSA Limited has finalized a loan agreement with Mandarin Rock Pty Ltd, associated with its Non-Executive Chair David Geraghty, for acquiring shares in BSA. The unsecured loan facility, capped at AUD 2,000,000, carries an annual interest rate of 10% and is payable over three years. After the first year, the borrower must begin quarterly repayments. BSA's Non-Conflicted Directors approved the loan without requiring shareholder approval, deeming it fair and compliant with the Corporations Act. Standard default provisions apply, and the facility does not pose material risks to the company or its stakeholders.
Key Points
  • BSA Limited has granted a loan facility to an entity associated with its Non-Executive Chair, David Geraghty.
  • The loan amount is up to AUD 2,000,000, subject to standard conditions.
  • The borrower is Mandarin Rock Pty Ltd, with guarantees from directors David Geraghty and Beibei Yu.
  • The loan facility is for acquiring BSA shares through market acquisitions or share transfers.
  • The interest rate on the loan is 10% per annum, payable quarterly.
  • The loan is unsecured, with a maturity date of three years from the drawdown date.
  • Repayment begins after a 12-month grace period, at 12.5% of the loan amount per quarter.
  • Standard default events apply, including non-payment and insolvency.
  • The loan agreement is considered a financial benefit and assistance to a related party under the Corporations Act.
  • The Non-Conflicted Directors of BSA determined that the loan terms are reasonable and not materially prejudicial.
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.