Conditional Agreement toConditional Agreement to Capitalize a Shareholder’s Loan • June 11th, 2021
As disclosed in the Third Quarter Results for the 9-month period ended 31 December 2017 released by the Company on 10 February 2017 (Announcement Ref.: SG170210OTHRJSYU), out of the US$989,000 of current liabilities recorded as owing by the Company as at 31 December 2016, an amount of US$700,000 is owing to a shareholder of the Company. The said amount of US$700,000 represents the balance of the shareholder’s loan that was originally extended by a shareholder of the Company, Triton Investments No. 9 Pte. Ltd. 1 , to meet the working capital requirements of the Company, which loan had since been replaced and taken over by Polaris Nine Private Limited (“Polaris Nine”), a controlling shareholder of the Company in 2016.
