Debt Repayment Extension

ASX Statement 30 March 2020 ASX Code: AU1
Debt Repayment Extension The Agency Group Australia (ASX:AU1) (“The Agency” or “the Company”) wishes to provide an update to the market on the refinancing its primary bank debt, which is due for repayment on 31 March 2020.
Its current funder, a tier one Australian bank (“the Debt funder), has remained supportive of the Company and has expressed an interest to extend the current debt facility. To provide sufficient time to allow refinancing negotiations to complete and the Debt Funder time to adhere to internal policies, including formal credit approval, the Debt Funder has agreed to extend the debt repayment date, by two weeks (until 9 April 2020).
In addition to the negotiations with the Debt Funder the Company has been in parallel discussions with other credible debt providers regarding refinancing of its primary bank debt and will continue to advance these to a suitable conclusion.
The Board will provide a further update to the market closer to the conclusion of the extension period.
The Agency boasts significant assets, with a rent roll valued at ~ $23.5 million and mortgage book valued at ~$5.2 million.
This ASX release has been approved for release by the board.
Stuart Usher
Company Secretary
For further information, please contact:
Investors Media The Agency Australia Ltd Chapter One Advisors Paul Niardone David Tasker / Colin Jacoby T: +61 08 9204 7955 T: +61 433 112 936 / +61 439 980 359