VIENTO GROUP LTD Viento Group Limited ("Viento", ASX: VIE) is pleased to announce the execution of a $2 million loan facility provided by related entities of Viento Directors, Ray Munro and John Silverthorne. The purpose of the facility is to assist with general working capital and the corporate purpose requirements of Viento.
Key Terms of the FacilityLender | Nicholas John Ross Silverthorne and Maureen Kay Silverthorne ATF the Silverthorne Family Trust |
Facility Limit | $1,600,000 |
Maturity Date | 12 months |
Interest Rate | 10% per annum |
Interest Payment Date | The last business day of each calendar month |
Lender | RCM Resources Pty Ltd (an entity related to Ray Munro) |
Facility Limit | $400,000 |
Maturity Date | 6 months |
Interest Rate | 10% per annum |
Interest Payment Date | The last business day of each calendar month |
The facility has been provided by the lenders initially on an unsecured basis. The Company is required to seek shareholder approval for the loans provided under the facility to be secured as a second ranking charge behind all the money owed or to be owed by Viento to the Commonwealth Bank under its finance documents.
- ENDS - About Viento Group LimitedViento is a growing mining services business specialising in civil contracting on rail embankments, access roads and general mine infrastructure projects, mine pre-stripping, contract mining and utility services to the mining, oil and gas industries. Viento is a diverse and experienced specialist manufacturer of transportable switchrooms including design and delivery of electrical switchgear and service solution used for mining, oil and gas, and industrial projects. Viento provides equipment and labour hire to established mining and civil projects, heavy duty mechanical repairs and mine site shutdowns.
For further information contact: Ray Munro, Executive Chairman Viento Group Ltd
T: 61 8 6145 2400
www.vientogroup.com
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