Advanced Systems Automation Limited (SG:WJ9) has released an update.
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Advanced Systems Automation Limited has announced a proposal for issuing 5.0% redeemable convertible notes worth up to S$20 million, with an agreement in place to issue notes for an aggregate value of S$5 million. The company has already submitted an application for additional listing of conversion shares and plans to seek shareholder approval at an upcoming extraordinary general meeting. This move follows a series of earlier announcements and a supplemental letter to the original Subscription Agreement.
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