Peninsula Energy Announces Final Loan Conversion
Key points
- Final conversion of $4.21 million loan completed
- 21,084,101 shares issued to lender
- Outstanding debt to lender now nil
- New debt facility of $30 million under negotiation
Full summary
Peninsula Energy Limited (ASX: PEN) has completed the final conversion of a $4.21 million Convertible Loan Facility with Adare Finance, issuing 21,084,101 ordinary shares to the lender. This conversion reduces the company's outstanding debt to the lender to nil. The conversion price was calculated using the AUD/USD exchange rate and an adjusted conversion price of A$0.2896 per share. Additionally, Peninsula has entered into a new $30 million senior secured convertible note debt facility with SP Financing 1 Pty Limited, subject to certain conditions being met by 31 July 2026.
Guidance
None
Outlook
None
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