ACCENT:  55   0 (0.00%)  22/05/2019 00:00

Accentuate Enters Into Convertible Loan Agreements

April 3 (Reuters) - Accentuate Ltd:

* CHIEF EXECUTIVE OFFICER OF ACCENTUATE HAS LOANED R1 MILLION TO COMPANY

* REQUIRES LOAN FUNDING FROM LENDERS, WHO AGREED TO PROVIDE LOAN FUNDING, TO MEET, EXCEED COVENANTS IN TERMS OF BANK FACILITY AGREEMENT

* ENTERED INTO SUBORDINATED CONVERTIBLE LOAN AGREEMENTS WITH LENDERS UNDER WHICH LENDERS ADVANCED LOANS TO CO

* LOANS ARE TO BE REPAID BY COMPANY ON OR BEFORE EXPIRY OF A 24-MONTH PERIOD

* PRUTA HOLDS 8.61% ACCENTUATE ORDINARY SHARES AND IS NOT A RELATED PARTY AND HAS LOANED R1.5 MILLION TO COMPANY

* JACANA HOLDS 9.72% CO'S ORDINARY SHARES AND IS NOT A RELATED PARTY AND HAS LOANED R1.5 MILLION TO COMPANY

* TBI IS MATERIAL SHAREHOLDER WITH A 28.92% HOLDING OF CO'S ORDINARY SHARES, IS A RELATED PARTY & HAS LOANED R1 MLN TO CO Source text for Eikon: Further company coverage:

2019-04-03 07:13:00

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