Singapore eDevelopment says wholly owned subsidiary, SeD Home, Inc., has entered into a loan agreement with Hengfai Business Development (HBD).
Under the loan agreement, HBD has agreed to grant a interest-free loan facility of up to US$15 million ($21.2 million) to SeD Home. The proceeds from the facility shall be used to fund the group’s property development projects in US.
Among the other salient terms of the deal, HBD may elect for SeD Home to repay the loan in cash; or set off the payment against any consideration payable by HBD for the subscription of shares in the rights issue announced by the group on July 27 or issue new shares of the company based on the same terms as proposed rights issue.
Shares of SeD closed 21.4% higher at 3.4 cents on Aug 21.
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Under the loan agreement, HBD has agreed to grant a interest-free loan facility of up to US$15 million ($21.2 million) to SeD Home. The proceeds from the facility shall be used to fund the group’s property development projects in US.
Among the other salient terms of the deal, HBD may elect for SeD Home to repay the loan in cash; or set off the payment against any consideration payable by HBD for the subscription of shares in the rights issue announced by the group on July 27 or issue new shares of the company based on the same terms as proposed rights issue.
Shares of SeD closed 21.4% higher at 3.4 cents on Aug 21.
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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