Hydration solutions company The Hydration Pharmaceuticals Company Limited (ASX: HPC) (Hydralyte North America or the Company) refers to its announcement dated 27 March 2024 (“27 March 2024 Announcement”) where the Company advised that it had signed a variation to its facility agreement with boutique asset manager and existing substantial shareholder PURE Asset Management Pty Ltd as trustee for The Income and Growth Fund (“PURE” or “PURE Asset Management”) (“Original PURE Facility”).
All capitalised terms in this announcement have the same meaning as defined in the 27 March 2024 Announcement.
Under the terms of the variation (“Amended PURE Facility”), Hydralyte secured A$1.7m in new funding and two additional tranches, valued at A$1.5m each, which can be accessed at the discretion of PURE. A condition precedent to the Amended PURE Facility becoming effective (and thus access to the additional funding under the Amended PURE Facility becoming available), was the requirement of a waiver of Listing Rule 10.1 in order to vary the Original PURE Facility.
Hydralyte is pleased to advise that on 24 April 2024 ASX granted a waiver of Listing Rule 10.1 to allow the Company to amend the Original PURE Facility without shareholder approval in accordance with the terms of the Amended PURE Facility, and to secure its obligations under the Amended PURE Facility.
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