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An update from Keybridge Capital Limited ( (AU:KBC) ) is now available.
Keybridge Capital Limited has been granted a waiver from the ASX Listing Rule 10.1, allowing it to secure a bridge funding facility from WAM Active Limited without shareholder approval. This facility, which reduces the interest rate from 12% to 9% upon granting security, is crucial for addressing Keybridge’s solvency concerns and facilitating its recapitalization efforts. The independent directors of Keybridge negotiated the terms on an arm’s length basis and deemed them fair and reasonable for shareholders. This move is expected to stabilize the company’s financial position and assist in its return to trading after a prolonged suspension.
More about Keybridge Capital Limited
Keybridge Capital Limited (ASX: KBC) is an investment and financial services group with a diversified portfolio that includes listed and unlisted investments and loan assets. The company operates in sectors such as life insurance in New Zealand, property, and funds management, and holds substantial stakes in companies like Yowie Group Ltd, Benjamin Hornigold Ltd, HHY Fund, Molopo Energy Limited, and RNY Property Trust.
Technical Sentiment Signal: Sell
Current Market Cap: A$9.72M
For an in-depth examination of KBC stock, go to TipRanks’ Overview page.