Common Contracts
1 similar Shareholder's Loan Agreement contracts
SHAREHOLDER’S LOAN AGREEMENT WITH WANG ZHIShareholder's Loan Agreement • November 21st, 2019
The board of directors (the “Board”) of Darco Water Technologies Limited (the “Company”, and together with its subsidiaries, the “Group”) refers to the Company’s earlier announcement dated 11 November 2019 (the “11 November Announcement”) where it was disclosed that Mr. Wang Zhi (“Mr Wang” or the “Lender”), a controlling shareholder and non-executive director of the Company, has agreed in-principle to provide or procure additional funding of up to S$2 million1 by way of a shareholder’s loan to the Company (the “Shareholder’s Loan”), and wishes to announce that on 21 November 2019, the Company and Mr. Wang have entered into a shareholder’s loan agreement (the “Loan Agreement”) which sets out the terms and conditions of the Shareholder’s Loan. While the Shareholder’s Loan constitutes an interested person transaction under Chapter 9 of the Listing Manual, the value of the transaction (i.e., the interest payable by the Company to the Lender on the Shareholder’s Loan) is less than 3% of the
