Execution of Loan Agreement
Sydney, Aug 26, 2020 AEST (ABN Newswire) - Actcelerate International Group Ltd (
NSX:ACT) advises that it has entered into a unsecured loan facility agreement with PE Holding Sdn Bhd. The Facility provides AIG with up to A$150,000, subject to drawdown, for working capital purposes.
The key terms of the Facility are as follows:
- Principal Amount: AUD$150,000.00
- Drawn Down Period: 6 Months.
- Term: Initial 6-month term, which may be extended by mutual agreement.
- Interest Rate: 10%.
- Security: Unsecured.
The Company is continuing discussions with a number of parties regarding a capital raising, by way of the issue of debt or equity, for investment and working capital purposes.
About Actcelerate International Group Limited
Actcelerate International Group (NSX:ACT) is a Diversified Investment Company whose focus is on the Asia-Pacific market. Our investments focus on four major sectors. These are, Information and Communications Technology, New Age Retail, Financial Services, and Green Technology. The objective of the company is to capture the above-mentioned sectors, that have a high potential for growth, in the Asia-Pacific market. This is as the Asia-Pacific is a single market and production base, and is a competitive economic region within the global economy. We invest in companies and businesses which meet the above-mentioned criteria. We then provide these companies with the opportunity to expand their market coverage. We focus on SMEs and start-up companies in the Asia Pacific that have the potential for continuous growth. We can strengthen our purchasing power by leveraging and co-investment collaborations. Our target companies will be working closely with us in all aspects of business. This gives them an in-depth, better understanding of the nature of the business. It allows us to develop focused strategies to accelerate the growth potential of the business.
