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  • ASF Group For Friday, John, Please Look At Analysis 0 comments
    Dec 19, 2013 5:07 PM

    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.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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