GSH Corporation obtains loan facilities of up to $150 mil on condition that Sam Goi remains controlling shareholder

GSH Corporation, on Jan 3, announced that it obtained loan facilities of up to $150 million under a loan facility agreement dated Dec 31, 2020.

According to a filing via SGX, the agreement states that Sam Goi and his immediate family members, including his siblings, spouse and children, have to own at least 35% of the issued share capital of the company.

They should also be able to control the casting of at least 35% of the maximum number of votes that might be cast at a general meeting of the company.

Furthermore, any shareholder or group of shareholders should not own a greater stake in the company than Goi and his immediate family members.

If a breach in any of the conditions occurs, the lender is entitled to demand GSH Corporation repay the loan.

As at 9.27am, shares in GSH are trading flat at 18.8 cents.