Brief: Openlearning Says Converts Debt To Equity

Openlearning

29/02/2024 04:17

Feb 29 (Reuters) - Openlearning  OLL.AX :
    * CONVERTS DEBT TO EQUITY AND INCREASES LOAN FACILITY WITH
EDUCATION CENTRE
    * ELECTED TO CONVERT OUTSTANDING DEBT TO ECA, WILL CONVERT
INTO
SHARES AT PRICE OF 2.0 AU CENTS
    * EDUCATION CENTRE OF AUSTRALIA AGREED TO MAKE A$2 MILLION
AVAILABLE UNDER FACILITY TO SUPPORT CO'S OPERATIONS
    * WILL EXTINGUISH A$3.105 MILLION CURRENTLY OUTSTANDING DEBT
OBLIGATIONS TO ECA
    * ALONGSIDE CONVERSION, ECA AGREED TO INCREASE CURRENT LOAN
FACILITY ALLOWING CO TO DRAW DOWN A FURTHER A$2 MILLION

Source text for Eikon:  ID:nASX87k9cb 
Further company coverage:  OLL.AX 

 ((Reuters.Briefs@thomsonreuters.com;))