Electro Optic Systems Holdings Limited

ASX:EOS

Electro Optic Systems Holdings Limited

ASX:EOS
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$4.46 (+1.1%)
Last close price
#199
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6
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43
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Reports (10) My Report Forum Investors
Forum Topics EOS EOS Risks

Pinned straw:
Rudyboy
Added 2 years ago

What is going on with EOS. One week they get a big order, the next their funder Soul Parts is serving them a notice.


Electro Optic Systems Holdings (“EOS”) is in Commercial Dispute with its lender, Washington H. Soul Pattinson (“WHSP”).

EOS announces today that after close of business on Friday 6 October 2023 it received a demand for payment of a $4.5 million fee within 7 days, from its primary lender WHSP.

EOS is seeking to meet with WHSP to discuss the matter, and believes this represents a commercial dispute with WHSP. EOS is seeking legal advice on the validity of the demand and intends to vigorously defend its position, noting that it has adequate funding to pay this fee if required.
Solvetheriddle
Added 2 years ago

what struck me with this announcement was that SOL are quite conservative and unlikely to move unless they see a real issue. they are not attention seekers. maybe its a legal dispute over the interpretation of terms etc, thats the bull case for EOS. it sets off some alarms for me without knowing many facts.

15
jcmleng
Added 2 years ago

Yeah, didn't like the tone of the announcement. EOS has been travelling quite nicely of late, so this setback is a bit of a bum.

11