NoviqTech Extends $1.4m Loan Facility with Copeak
Key points
- Maturity date extended to 1 April 2028
- Facility amount remains $1.4m
- Interest rate unchanged at 5% per annum
- Facility remains unsecured
- No additional benefits to Copeak
Full summary
NoviqTech Limited (ASX: NVQ) has extended its existing loan facility agreement with Copeak Pty Ltd, an entity controlled by a non-executive director. The extension strengthens the company's funding arrangements as it works towards satisfying the ASX's requirements for reinstatement to quotation. Key terms include extending the maturity date from April 2027 to April 2028, maintaining the facility amount at $1.4m, and keeping the interest rate at 5% per annum. The facility remains unsecured, and no additional benefits were provided to Copeak.
Guidance
No specific financial guidance provided.
Outlook
NoviqTech is working towards satisfying the ASX's requirements for reinstatement to quotation.
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