Tindall's K1W1 lends $1.5M to Simplicity to repay Stubbs debt, fund growth

Sun, 07 Apr 2019

By Paul McBeth April 8 (BusinessDesk) - Warehouse founder Steven Tindall's K1W1 investment vehicle is lending $1.5 million to fund manager Simplicity NZ, to repay money owed to founder Sam Stubbs and help cover the firm's expansion. Stubbs loaned Simplicity $900,000 on an interest-free basis when he set up the not-for-profit fund manager and committed to provide more support if needed if Simplicity couldn't pay its bills until at least July 31 of this year. Of the loans, some $300,000 had been due on March 29 this year, with the balance...

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