Geo Limited (NZX: GEO) has received a Conversion Notice and Repayment Notice issued in accordance with the terms of the 23 August 2019 Convertible Note Agreement between North Ridge Partners Pty Limited and Geo.
The Notice relates to all 1,500,000 Convertible Notes held by Wentworth, which will be converted into 12,500,000 new Geo ordinary shares and the subscription price of 250,000 Convertible Notes will be repaid, along with all accrued but unpaid interest.
The conversion and redemption will reduce Geo’s term liabilities by $1,500,000.
Tim Molloy, Chief Executive Officer of Geo, has thanked North Ridge Partners and Wentworth for their funding support.
Geo is a leading SaaS business that provides smart software platforms for tradies, field and home service businesses.See more