ISA Group Provides Updates on its Financing Facilities with Westpac

  • Jan 19, 2020 AEDT
  • Team Kalkine

Indoor Skydive Australia Group Limited (ASX:IDZ) is currently in breach of certain repayment duties under its financing facilities due to the postponement to the completion of the transaction of its Perth Indoor Skydiving facility under the Asset Sale Agreement with iFly Australia Pty Limited, which remains subject to an outstanding condition precedent.

The company is in constant talks with Westpac with respect to resolving these breaches and to agree on some specific revised terms and agreements for the facilities going forward.

The stock of IDZ closed the day’s trading at $0.011 per share on 17 January 2020, no change from its previous closing price.



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