14 November 2005 ASX RELEASE ASX Code: OCO
CONVERTIBLE NOTE ISSUED
The Directors of Oriel Communications Limited (“Oriel”) wish to advise they have issued a
Convertible Note to raised $240,000 from Zero Nominees Pty Ltd.
Zero Nominees Pty Ltd has been a strong supporter of Oriel and the directors are pleased
that they have agreed to take up this Convertible Note as a sign of their continued support.
The funds raised will be used to support the continued commercialisation of the BilltoBill
payment system in China where the company has recently been successful in signing
contracts with three major Chinese ticketing groups.
Terms of the Convertible Note issue are as follows:
The notes mature on 4th November 2006;
The notes are fully redeemable at maturity or are convertible into 24,000,000 ordinary
shares at any time up to maturity;
The notes have a 7.5% coupon rate attached and interest is payable quarterly in arrears.