Brief: Hoe Leong Corporation Entered Into A Binding Term Sheet With Shing Heng Holding

Hoe Leong

14/09/2020 13:25

Sept 14 (Reuters) - Hoe Leong Corporation Ltd  HLEC.SI :
    * HOE LEONG CORPORATION LTD -  ENTERED INTO A BINDING TERM
SHEET
WITH SHING HENG HOLDING PTE LTD
    * HOE LEONG CORPORATION LTD -  CO TO ISSUE S$3 MILLION
CONVERTIBLE
LOAN TO SHING HENG HOLDING PTE
    * HOE LEONG CORPORATION - TO GRANT TO SHING HENG HOLDING S$9
MILLION IN OPTIONS TO SUBSCRIBE FOR NEW ORDINARY SHARES OF CO
    * HOE LEONG CORP - UPON CONVERSION OF CONVERTIBLE LOAN &
EXERCISE
OF OPTIONS, SHING HENG HOLDING TO HOLD 54% OF ENLARGED SHARE
CAPITAL OF CO
    * HOE LEONG CORPORATION LTD - PROVISION BY SHING HENG
HOLDING OF
S$1 MILLION BRIDGING LOAN TO CO

Source text for Eikon:  urn:newsml:reuters.com:*:nSNZ3CRnlh
Further company coverage:  HLEC.SI 

 ((Reuters.Briefs@thomsonreuters.com;))