Bennelong, 2/3B Macquarie Street
Sydney NSW 2000
Telephone: (61 2) 9251 9088
Facsimile: (61 2) 9251 9066 www.asfgroupltd.com
19 December 2013
The Manager
Company Announcements
Australian Stock Exchange Ltd
20 Bridge Street
Sydney 2000
via: www.asxonline.com
Dear Madam/Sir
ASF Group Limited ("ASF") refers to its $9 million convertible facility ("Convertible Loan") with Star Diamond Developments Limited ("Star Diamond") and is pleased to announce that it has partly repaid to Star Diamond a principal amount of $3 million by way of conversion and cash.
The repayment was satisfied by the payment of $500,000 in cash and the issuance or transfer of fully paid ordinary shares with the total value of $2.5 million to Star Diamond (or its nominees) as set out below:
Company Name | Loan Conversion Amount | % of interest Held by ASF after Conversion | % of interest Held by Star Diamond (or its nominees) after Conversion |
ASF Capital Pty Ltd | $500,000.00 | 59.51% | 40.49% |
ActivEX Ltd | $1,000,000.00 | 24.71% | 15.24% |
ASF Resources Ltd | $1,000,000.00 | 53.69% | 32.91% |
$2,500,000.00 |
ASF is still in negotiation with Star Diamond for possible further conversions and when the basis of conversion is agreed, a further announcement will be made.
Information about ASF
ASF is unique among ASX-listed public companies in Australia as a creator and facilitator of two-way cross-border investments, trade and funds management between China and Australia. Since its transformation into a Sino-Australian investment and trading house in
2006, ASF has focused principally on the identification, incubation and realisation of opportunities across various industries.
William Kuan Company Secretary Ph: +612 9251 9088
Fax: +612 9251 9066
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