Angel Seafood Holdings Ltd.’s Capital Management

Extension of Debt Facility with NAB: Angel Seafood Holdings Ltd.’s (ASX: AS1) debt and trading facility has been increased by NAB. NAB has increased the total facility by $2-million, to $2.8-million. This debt facility is for the term of three years with any draw down being at the option of the company. Further, this debt facility is secured by the assets of AS1 and is at market rates of interest, which is about 5.35%. The repayment of $500,000 must occur after each year and the term can be extended provided the NAB approves. AS1 is encouraged by the backing of the NAB, and the company as the testament to the measured growth and significant achievements considers this increase. The company can look for acquisition opportunities with this increase of the facility. On the  other hand, AS1 has signed the Sales Agreement for the Cowell water and associated assets. The company has executed its option under the Cowell acquisition agreement. Meanwhile, AS1 stock has risen 14.29% in three months as on July 11, 2018.


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