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Norwood Systems Limited (ASX:NOR)

ALERT: Price-sensitive ASX Announcement for NOR
Current share price for NOR : $0.023 0.012 (109.09%)+
Announcement
Release
23 Apr 2026 1:00PM
Price at Release
$0.011
Full Release
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Summary
Norwood Systems Limited has announced securing an additional $80,000 in working capital funding through a deed of variation agreement with Plough Lane Superannuation Pty Ltd, under the control of ex-director Dr John Tarrant. This funding is part of their fully drawn $200,000 working capital facility. The loan bears an interest rate of 9.75% and is due for repayment by 30 June 2026, with a 3% default interest rate applicable if not repaid by the due date. An establishment fee of 4% plus GST is also required. The loan is unsecured. Paul Ostergaard, the Managing Director, expressed gratitude towards Dr Tarrant for his ongoing support.
Key Points
  • Norwood Systems Limited secured an additional $80,000 in working capital funding.
  • The funding agreement is with Plough Lane Superannuation Pty Ltd.
  • The interest rate on the loan is 9.75%.
  • Repayment is due by 30 June 2026.
  • An establishment fee of 4% plus GST is applicable.
  • The loan is unsecured.
  • Dr John Tarrant is a key figure associated with the lender.
  • Paul Ostergaard, Managing Director, thanked Dr Tarrant for the support.
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.