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Changes to debt facility support turnaround and growth

30 September, 2019 

Posted at 7:40 am 

by Pureprofile 

Pureprofile Limited (ASX: PPL or the Company) is pleased to announce that its ongoing turnaround and growth strategy has been strengthened with the support of long-term investor, Lucerne Investment Partners, who has agreed to the following changes to the Company’s existing debt facility (Facility), effective immediately.

  • Increase to drawdown limit – the drawdown limit on the Loan, referenced in the ASX announcement dated 25 June 2019, has been increased from $2.6 million to $7 million. The increase in drawdown limit will be used for working capital and will not materially impact the Company’s overall financial position.
  • Removal of covenant – the Facility covenant, which required that the Company maintain consolidated net tangible assets greater than -$10,000,000, has been removed. There are no other financial covenants under the Facility.

 

– ENDS –

For further information, please contact:

George Kopsiaftis

IR Department
george.kopsiaftis@irdepartment.com.au
+61 409 392 687

About Pureprofile

Pureprofile’s vision is to deliver more value from the world’s information.

We are a global data and insights organisation providing industry-leading online research solutions to agencies, marketers, researchers and brands & businesses.

Our research delivers rich insights into real human behaviour and provides the “Why” behind the “What” through our unique ResTech and SaaS solutions.

We build in-depth profiles of consumers via our proprietary and partner panels and give businesses the ability to understand, target, and ultimately engage with their audiences.

The Company, founded in 2000 and based in Surry Hills, Australia, now operates in North America, Europe and APAC and has delivered solutions for over 850 clients.

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