Clean Seas Confirms Renewal of A$32.15 million Funding Agreement with the Commonwealth Bank of Australia

21 Dec 2022 23:50 CET

[ADELAIDE], 22 DECEMBER 2022:


Clean Seas Seafood Limited (ASX: CSS, OSE: CSS) announces that it has renewed
its A$32.15 million funding agreement with Commonwealth Bank of Australia until
July 2024.

The facility comprises of the following facilities:

Debt Facility Summary A$'000
Trade Finance Facility 12,000
Equipment Finance Facility 6,000
Cash Advance Facility 14,000
Corporate Card Facility 150
Total Debt Facility 32,150

These facilities will provide sufficient headroom for working capital and will
fund planned capital investment projects, including those that will deliver
increased production capacity and automation.

The Group is subject to financial covenants, including operating cash flows and
current ratio, which are reviewed quarterly.

Clean Seas CEO Rob Gratton said “We are very pleased to continue our strong and
long-standing banking relationship with the Commonwealth Bank of Australia, and
these renewed facilities will continue to support the execution of Clean Seas’
strategic plan.”

For further information please contact:
Rob Gratton
CEO
rob.gratton@cleanseas.com.au

More information:
Access the news on Oslo Bors NewsWeb site

578927_221222 ASX Announcement - Bank Facility renewed.pdf