Brief: Jayex Technology Receives Proposal To Restructure Debt Of Co Held By Covenant Holdings

Jayex Technology

25/11/2022 24:48

Nov 25 (Reuters) - Jayex Technology Ltd  JTL.AX :
    * RECEIVED A PROPOSAL TO RESTRUCTURE DEBT OF COMPANY HELD BY
COVENANT HOLDINGS
    * PROPOSAL APPROVED BY INDEPENDENT DIRECTORS WOULD SEE DEBT
TO
COVENANT REDUCED TO ZERO THROUGH TWO TRANSACTIONS
    * INDEBTED TO COVENANT FOR A$3.3M THROUGH A$2.7M CONVERTIBLE
NOTES
WITH A COUPON OF 8%

Source text for Eikon:  ID:nASX5qRnBz 
Further company coverage:  JTL.AX