Catalist-listed Healthbank Holdings (formerly SMJ International) has entered into a convertible loan subscription agreement worth a total of $3.3 million in principal amount with three investors.

The three-year unsecured interest-free loan notes are convertible into ordinary shares at the option of the subscribers at a conversion price of 8.8 cents per share, which is equal to the volume-weighted average price of Healthbank shares on February 25, the last full market day shares in the company were traded.

The three investors for the convertible loan notes are Hong Kong-based investment holding firms EnerIHC Holding and Royal Investment Global as well as China-based Shenyang Pufei Technology Co. Mak Yuen Yee Selina, David Chic and  Liang Jian are the sole shareholders for the firms respectively. Upon conversion, each subscriber will obtain a maximum shareholding of 10.82% of the enlarged share capital.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook