Annica Holdings Limited (SG:5AL) has released an update.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Annica Holdings Limited has entered into a debt conversion agreement with four creditors, converting S$2,400,000 of interest-free, unsecured cash advances into over 2.28 billion new shares to settle the debt fully. The conversion will involve the issuance of shares at a conversion price of S$0.00105 each, with the company’s Executive Director and CEO, Ms. Hon, converting S$1,100,000 and remaining a substantial shareholder.
For further insights into SG:5AL stock, check out TipRanks’ Stock Analysis page.