The founding shareholders of Village Life, non-executive directors, John Krimmer and Tony Roberts agreed to give Village Life Properties with a $2 million line of credit.
Krimmer through his subsidiary company Reenem Pty Ltd and Roberts through his subsidiary company Piccadillee Pty Ltd, have provide Village Life with the line of credit to buy interests in approved development properties.
The conditions of the line of credit are on normal commercial terms and conditions.
By Adam Parsons
