Half year results

HALFYR

Tue, Nov 29 2022 02:18 pm

Blackwell Global Holdings Limited (NZZ: BGI) has released its unaudited financial statements for the 6 months ended 30 September 2022.

During the course of the first six months of the financial year ending 31 March 2023, BGI’s independent directors and its major shareholder Blackwell Global Group Limited (BGGL) agreed that, subject to shareholder approval:

1. BGGL would extend the maturity date of the Bonds it held in BGI to 31 December 2023, and would not call for a repayment of the Bonds prior to that date except in a liquidation of BGI or through the Bond Capitalisation referred to below (the Bond Extension); and

2. BGGL agreed to capitalise $450,000 of the Bonds at an issue price of NZ$0.0045 per new share (for an issue of 100,000,000 new fully paid ordinary shares in BGI) (the Bond Capitalisation) (the Bond Extension and the Bond Capitalisation, together the Bond Transaction).

The Bond Capitalisation was approved by BGI shareholders on 22 September, and was completed on 19 October.

Following completion of the Bond Transaction there is $550,000 of Bonds that remain outstanding with a maturity date of 31 December 2023.

During the course of the half year period, the focus of the Board has been to continue to seek to identify a suitable business opportunity to invest in and/or acquire through a reverse takeover (“RTO”) transaction.

Currently, there are no new RTO initiatives being actively investigated, but the Board will update the market with any material developments as they may arise.

We thank you for your continued patience and support and look forward to working hard to ultimately provide you with an RTO transaction proposal to consider during the 2023 calendar year.