Australia's Jayex rises after Covenant's debt recast proposal

Jayex Technology

25/11/2022 03:49

** Shares of Australia's Jayex Technology Ltd  JTL.AX  rise
as much as 33.3% to A$0.008, hitting highest since Nov.15
    ** Healthcare technology service provider receives a
proposal to restructure debt held by Covenant Holdings (WA) Pty
Ltd
    ** JTL says owes Covenant A$3.3 mln($2.23 mln), which
currently costs co about A$200,000 per annum and an at call
unsecured loan of A$550,000 
    ** Adds, proposal sees debt to Covenant being wiped out in
two transactions 
    ** About 5.8 mln shares traded, vs 30-day moving average of
155,000 shares
    ** Stock eyes best day since Nov.15, if gains hold 
    ** JTL has fallen 68.4% this year, as of last close
    ($1 = 1.4786 Australian dollars)
 (Reporting by Nausheen Thusoo)
 ((Nausheen.Thusoo@thomsonreuters.com;))