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Norwood Systems Limited (ASX:NOR)

ALERT: Price-sensitive ASX Announcement for NOR
Current share price for NOR : $0.018 -0.008 (-30.77%)+
Announcement
Release
30 Jun 2026 7:11PM
Price at Release
$0.026
Full Release
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Summary
Norwood Systems Ltd has extended the repayment of a $180,000 working capital loan from Plough Lane Superannuation Pty Ltd, controlled by ex-director Dr John Tarrant, from 30 June to 31 August 2026. The loan terms include an interest rate of 9.75% with a 3% default rate if not repaid on time. An establishment fee of 3% of the loan amount plus GST is payable, and Norwood will issue 4,250,000 unquoted options as part of the facility fee. If these options are not issued by 31 December 2026, Norwood must pay their market value plus GST.
Key Points
  • Norwood Systems Ltd extends the repayment of a $180,000 loan.
  • The loan is with Plough Lane Superannuation Pty Ltd, controlled by Dr John Tarrant.
  • Repayment date is extended from 30 June to 31 August 2026.
  • The interest rate remains 9.75%, with a 3% default interest rate if unpaid by the due date.
  • An establishment fee of 3% of the loan plus GST is payable within 2 days of drawdown.
  • Norwood Systems will issue 4,250,000 unquoted options exercisable at 2 cents, expiring on 30 June 2028, as part of the facility fee.
  • If options are not issued by 31 December 2026, Norwood must pay the market value of the options plus GST as a borrowing fee.
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.