Brief: Singapore eDevelopment updates on restructuring of Information Technology Business

Alset International

19/01/2016 10:30

Jan 19 (Reuters) - Singapore eDevelopment Ltd  SINE.SI : 
 * Says update the shareholders of its decision to restructure the activities of 
its information technology business 
 * Group needs to provide significant continuing financial and managerial 
resources in development and commercialisation efforts 
 * Group will explore other avenues of raising new funds for furthering hotapp's 
endeavours 
 * "Critical and essential programmes will continue to be streamlined until and 
unless new external funding can be secured" 
 * Says group had intended to allocate a portion of net proceeds from rights cum 
warrant issue initiated in December 2015 
 * Board will further restructure information technology business depending on 
availability of new funds 
 * Says to allocate a portion of net proceeds from rights cum warrant issue 
initiated in December 2015 for continuous development of hotapp 
 
  Source text for Eikon  ID:nSNZ1Bk9w6  
 
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