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An update from Norwood Systems Ltd ( (AU:NOR) ) is now available.
Norwood Systems Ltd has announced a tenth variation to its loan agreement with Balmain Resources Pty Ltd, extending the repayment date to 31st July 2025 while maintaining an interest rate of 7.95% and an extension fee of 1.75%. This financial arrangement has been crucial in providing Norwood with the necessary capital to secure significant contracts, such as the Optus contract, and to support its growth initiatives over the past year. The company has repaid $550,000, reducing the principal to $318,341.67, and aims to continue leveraging this facility to drive revenue and cash flow growth into FY 2026.
More about Norwood Systems Ltd
Norwood Systems (ASX: NOR) is a leading innovator in voice communication services, providing advanced conversational and generative AI technologies to revolutionize global communications. Its solutions enhance user experiences, delivering reliable and cutting-edge voice services to customers worldwide.
YTD Price Performance: -39.39%
Average Trading Volume: 582,279
Technical Sentiment Signal: Sell
Current Market Cap: A$10.32M
For an in-depth examination of NOR stock, go to TipRanks’ Overview page.