Brief: Hoe Leong Corp Enters Loan Agreement For S$1 Mln Bridging Loan Extended By Investor To Co

Hoe Leong

21/12/2020 13:08

Dec 21 (Reuters) - Hoe Leong Corporation Ltd  HLEC.SI :
    * ENTERED LOAN AGREEMENT FOR S$1 MILLION BRIDGING LOAN
EXTENDED BY
INVESTOR TO CO
    * ENTERED CONVERTIBLE LOAN NOTE AGREEMENT FOR CO TO ISSUE A
S$3
MILLION CONVERTIBLE LOAN NOTE
    * ENTERS DEBT SETTLEMENT & SUBSCRIPTION AGREEMENT WITH EACH
OF RHB
BANK, AND SING INVESTMENTS & FINANCE
    * TO ALLOT & ISSUE OF UP TO 242 MILLION AND 344.2 MILLION
NEW
SHARES TO RHB AND SIF, RESPECTIVELY, AT S$0.00175 PER SHARE
    * PROPOSES TO FURTHER UNDERTAKE ALLOTMENT & ISSUE OF 65.4
MILLION
NEW SHARES AT S$0.00175 PER REMUNERATION SHARE
    * ENTERS DEBT SETTLEMENT & SUBSCRIPTION AGREEMENT WITH
UNITED
OVERSEAS BANK FOR ISSUE OF ZERO INTEREST CONVERTIBLE BONDS

Source text for Eikon:  urn:newsml:reuters.com:*:nSNZ7fqBHw
Further company coverage:  HLEC.SI 

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