HTG Price sensitive 16 Jun 2025, 9:03 AM

Funding Update - Director Loan

Harvest Technology Group Ltd

Harvest Technology Group Secures Director Loan

Key points

  • Director Ilario Faenza provides short-term, unsecured loan of up to $500,000
  • Initial drawdown of $200,000 to be used for working capital
  • Loan terms include 15% interest rate and potential repayment through future capital raise

Full summary

Harvest Technology Group Limited (ASX:HTG) has announced that its Managing Director and CEO, Mr Ilario Faenza, has agreed to provide the company with a short-term, unsecured loan of up to $500,000 on commercial, arms' length terms. The initial drawdown of the loan will be $200,000, which will be used for the company's working capital purposes. The material terms of the loan agreement include an interest rate of 15% per annum, to be paid at the end of the term, and no security. Mr Faenza may request the repayment of all or some of the outstanding amount upon a future capital raise by the company, with the option to participate in the capital raise or receive the loan balance in cash. If any portion of the repayment is to be paid through the issue of securities or notes, shareholder approval will be required. The company must repay the full outstanding amount to Mr Faenza on the earlier of the completion of the capital raise and receipt of shareholder approval, the next business day after a general meeting where shareholder approval is not obtained, or 31 December 2025.

Summary generated by a large language model. Please interpret with care.

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