Norwood Systems (ASX:NOR) entered into an eighth deed of variation to a loan agreement that provided access to a cash drawdown capital facility of up to AU$300,000, according to a Friday Australian bourse filing.
The loan was provided by Balmain Resources, a company controlled by Norwood director, John Tarrant.
The new deed of variation agrees to an extension of the repayment date to March 31, with an extension fee payable on the repayment date of 1.5% of the new principal amount of around AU$763,590, including interest and fees, per the filing.
All other terms and conditions of the agreement remain in effect.
Its shares fell past 9% in recent trading on Friday.
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