Me Today - Debt Extension

On 29 August 2023 Me Today advised that it had agreed with the trustees of the TW Jarvis (No 1) Family Trust (Jarvis Trust) to extend the repayment date of the Jarvis Trust loan from 30 June 2024 to 31 March 2025.

Since the trading update on 20 October Me Today has been in discussion with the BNZ and the Jarvis Trust in respect to ongoing funding of the group.

A variation agreement has been signed with the Jarvis Trust to extend the repayment date further to 30 June 2026 with a quarterly review from 1 July 2025. The BNZ have also agreed to continue supporting the business through term loan and overdraft facilities to 30 June 2026.

The agreement with the Jarvis Trust it is subject to approval from the BNZ and either shareholder approval or a NZX waiver.
As noted in the annual shareholders meeting the company will be looking to undertake a capital raise in the first quarter of the 2024 calendar year.

Further details of the capital raise and a broader restructure of the group will be announced in materials sent to shareholders in advance of the meeting to approve the capital raise.

For further information please contact:
Grant Baker
Chairman, Me Today Limited
021 729 800

Stephen Sinclair
Chief Financial Officer, Me Today Limited
021 33 00 53

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Announcement PDF