05 June 2009
05 June 2009
Quickstep’s convertible loan agreement and agency agreement have been officially notarised and registered following a formal signing ceremony in the United Arab Emirates (UAE).
These agreements underpin Quickstep’s access to expansion funds and the ability to seek new aerospace manufacturing contracts in the Middle East region.
Under the terms of the agreement, InvestOne will lend up to A$10 million to Quickstep in tranches of up to A$2 million which can be drawn at intervals of at least 90 days, at Quickstep’s discretion, with the first A$2 million to be made available within 60 days from formal signing of the agreement.
“I am very pleased to be able to support the growth of Quickstep which has a tremendous technology and a huge potential in the Middle East as well as globally” Mr Bashir Siman, the Managing Director of InvestOne said at the signing ceremony which took place in Abu Dhabi with Mr Philippe Odouard, Chief Executive Officer of Quickstep Holdings.
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