Cacola Furniture International has obtained a $1 million five-year, 6% convertible loan from investor Ge Jian Ming to fund acquisitions.
If fully converted into Cacola shares at the initial conversion price of 0.684 cent per share, the conversion shares will represent 17.1% of Cacola's enlarged share capital.
The initial conversion price is a 2.3% discount to Cacola's closing price of 0.7 cent on Friday.
China businessman Ge is investing in the company for investment purposes only, the furniture maker announced on Monday before the market opened.
The investor will not hold 15% or more of the company's shares without shareholder approval.
Cacola is on the Singapore Exchange's watch list for failing to meet profitability and market capitalisation thresholds.
The company must raise either or both of its earnings and market capitalisation by March 2016 or face potential delisting.
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If fully converted into Cacola shares at the initial conversion price of 0.684 cent per share, the conversion shares will represent 17.1% of Cacola's enlarged share capital.
The initial conversion price is a 2.3% discount to Cacola's closing price of 0.7 cent on Friday.
China businessman Ge is investing in the company for investment purposes only, the furniture maker announced on Monday before the market opened.
The investor will not hold 15% or more of the company's shares without shareholder approval.
Cacola is on the Singapore Exchange's watch list for failing to meet profitability and market capitalisation thresholds.
The company must raise either or both of its earnings and market capitalisation by March 2016 or face potential delisting.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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