Issue of Convertible Note
Released
Released
Announcement PDF
Globe Metals & Mining Limited
ABN 33 114 400 609
45 Ventnor Avenue
West Perth WA 6005
ASX: GBE
+61 8 6118 7240
info@globemm.com
globemm.com
ASX Announcement
29 July 2025
Issue of Convertible Note
Globe Metals & Mining Limited (ASX: GBE) (Globe or Company) advises that it has
raised A$520,000 via a convertible note (Note) issue to assist the Company with its
short-term working capital requirements.
The Company will issue the Note to Ms Jennifer Ping, an overseas investor who is not
a related party of the Company. The Note has a face value of A$520,000 with a 6month term to maturity and a coupon rate of 20% per annum.
The Note is unsecured and convertible, in full or in part, into fully paid ordinary shares
in the Company at any time during or on expiry of the 6-month term at the election of
the noteholder at a conversion price representing a 20% discount to the 15-day volume
weighted average price (VWAP) of the Company’s shares immediately prior to the date
of the conversion notice. Interest is payable either in cash on the maturity date or upon
conversion of the Note into shares, at the noteholder’s election.
If, during the 6-month term, the Company undertakes a placement of shares to third
party investors, the noteholder will have the option to convert at the lower of:
• the placement price; or
• the price determined using the 20% discount to the 15-day VWAP.
The Company may elect, at its sole discretion, to repay all or part of the face value and
accrued interest at any time prior to the 6-month maturity date, subject to paying an
early repayment premium equal to 5% of the face value of the Note. The early cash
repayment option is not available to the noteholder. Unless converted or repaid earlier,
the face value of the Note and all accrued interest is payable in full by the Company on
the maturity date.
The note can be drawn down by the Company in two equal instalments on 1 September
2025 and 1 October 2025.
Authorisation for Release
This ASX Announcement has been authorised for release by the Globe Interim CEO
& CFO.
For further information, please contact:
Charles Altshuler
Interim CEO & CFO
+61 8 6118 7240
ca@globemm.com
Share your feedback
Discover