MPower Group Limited announce that it has considerably strengthened its balance sheet with a new loan facility and equity position from diversified Australian investment group Oceania Capital Partners Limited (OCP) to replace MPower's St George Bank debt facility that matures on 15 August 2023. Under the deal with OCP, MPower has extinguished in full its $4.5 million term debt with St George Bank and replaced it with a new $1.8 million loan from OCP which has also taken a 14.5% equity stake in MPower through the issue of 50 million ordinary shares in consideration
for providing the loan facility. The shares have been issued under the Company's ASX Listing Rule 7.1 and 7.1A placement capacity.