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Papyrus Australia Limited (ASX:PPY)
ALERT: Price-sensitive ASX Announcement for PPY
Current share price for PPY : $0.008 -0.001 (-11.11%)+
Announcement
Release
22 Jul 2026 9:32AM
Price at Release
$0.009
Full Release
Summary
Papyrus Australia Limited (PPY) announced the engagement of L39 Capital Pty Ltd as lead manager for a capital raising initiative, which includes a $200,000 loan agreement with Irwin Biotech, a related party. This loan is unsecured and interest-bearing, with provisions for conversion into shares, contingent on shareholder approval. L39 Capital will receive a success fee and options under the agreement. The funds raised are intended to advance PPY's commercial activities and support ongoing projects. Shareholder approval for these actions will be sought in the 2026 Annual General Meeting.
Key Points
- Papyrus Australia Ltd (PPY) has engaged L39 Capital Pty Ltd as lead manager for a capital raising.
- PPY entered into a $200,000 unsecured loan agreement with Irwin Biotech, a related party.
- The loan includes a conversion option to shares, pending shareholder approval.
- L39 Capital will receive success fees and options as part of the engagement.
- The funding will support PPY's commercialisation activities and projects.
- Shareholder approval is sought in the 2026 Annual General Meeting for the conversion and options.
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.
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