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Close the Loop Ltd (ASX:CLG)

ALERT: Price-sensitive ASX Announcement for CLG
Current share price for CLG : $0.029 0.007 (31.82%)+
Announcement
Release
20 May 2026 9:31AM
Price at Release
$0.022
Full Release
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Summary
Close the Loop Ltd has announced a series of strategic transformations, including the sale of ISP Tek Services for US$10 million, which will contribute to repaying US$16 million in debt and restructuring convertible notes. The company is also engaged in refinancing its remaining debt to reduce interest rates and enhance cash flow. These financial maneuvers align with its focus on strengthening core operations in Packaging and Resource Recovery. Close the Loop is leveraging AI-driven process improvements to boost efficiency and profitability, anticipating an EBITDA of $14 to $16 million for FY27. These efforts aim to position the company for sustainable growth and capitalize on opportunities within the global circular economy.
Key Points
  • Sale of ISP Tek Services for US$10 million
  • Repayment of US$16 million debt
  • Settlement and restructuring of convertible notes
  • Bank debt refinance activities in progress
  • EBITDA Guidance for FY27 between $14m to $16m
  • Strategic transformation focusing on core Packaging and Resource Recovery divisions
  • Implementation of AI-driven process improvements
  • Strengthened balance sheet and cashflow profile
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.