NZAI trade finance facilities extended

GENERAL

Fri, Dec 23 2022 08:30 am

23 December 2022

Market Announcement
NZX:NZA

NZAI trade finance facilities extended

New Zealand Automotive Investments Limited (NZA or the Company) today advised that the commercial bank that provides its finance facilities has extended its Retail Trade finance facility from 31 December 2022 to 30 April 2023 at a level of $6.0 million.

The Company’s Motor Finance loan facility will now expire on 1 October 2023, with a lending limit of $1.8 million.

The Company is in discussions with alternate lenders regarding replacement of finance facilities beyond that date.

The Company remains in compliance with all banking covenants as at 22 December 2022.

[ends]

This announcement has been authorised by the NZAI Board Chair, Michael Stiassny.

For further information please contact:

Gordon Shaw
Interim CEO
NZ Automotive Investments Limited

Email [email protected]
Mobile 021 199 0331