Yowie Group (ASX:YOW) has secured a AU$1 million short-term loan facility from parent company Keybridge Capital (ASX:KBC) to meet cash flow needs through to Sept. 30, as it investigates fund use by former directors from May's share placement and reviews prior intra-group loan arrangements, according to a Friday filing with the Australian bourse.
The funding is on commercial terms and complies with Australian Securities Exchange listing rules, the filing said.
The interest rates vary depending on whether the loan is repaid before or after the Sept. 30 deadline, with secured funds accruing interest at 9% per annum and unsecured funds at 12% per annum if repaid before that date, increasing to 11% and 14% respectively if repaid after, the filing added.
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