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ASF Group For Friday, John, Please Look At Analysis

ASF Group (ASX: AFA) has partly repaid $3 million of its $9 million convertible facility with Star Diamond Developments by way of conversion to shares and cash.

The repayment was satisfied by the payment of $500,000 in cash and the issue or transfer of share worth $2.5 million.

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.


The reduction of the $9 million convertible facility by $3 million reduces some of the stock overhang presented by the facility.

This leaves the company more leveraged to any upside potential.

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