Common Contracts
1 similar Exchangeable Loan Agreement contracts
EXCHANGEABLE LOAN AGREEMENT – ADJUSTED EXCHANGE PRICESExchangeable Loan Agreement • May 23rd, 2011
The Board of Directors of Otto Marine Limited (the “Company”) refers to the Exchangeable Loan Agreement dated 8 April 2008 (as amended by a Deed of Amendment dated 29 September 2008, a Second Deed of Amendment dated 25 June 2009, a Third Deed of Amendment dated 8 February 2010 and the Fourth Deed of Amendment dated 30 September 2010) (the “ELA”) entered into between our Controlling Shareholder, Business Companion Investments Limited (“BCI”), Standard Chartered Private Equity Limited (“SCPEL”) and our Executive Chairman, Yaw Chee Siew, under which SCPEL made a loan of S$70.0 million (the “Loan”) available to BCI in two tranches of S$35.0 million each and acquired certain indirect interests in the Company by means of a right to exchange for shares in the Company (the “Shares”) held by BCI in accordance with the terms of the ELA.
