NZX's SuperLife provides 12-month $1 mln loan to Energy Mad at 15.75% interest

Tue, 31 May 2016

By Jonathan Underhill June 1 (BusinessDesk) - NZX's SuperLife unit, which owns 45 percent of Energy Mad, has added to its support for the unprofitable lightbulb maker with a $1 million loan facility for one year to provide working capital and fund expansion in Australia where it is tapping into state energy efficiency schemes. The interest rate on drawn down funds will be 15.75 percent, the company said in a statement. Australian sales jumped 82 percent to $6.2 million in the year ended March 31, while the company's annual loss narrowe...

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