GP Industries Limited (SG:G20) has released an update.
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GP Industries Limited has increased its stake in its subsidiary, GP Electronics & Acoustics Co., Ltd. (GPE Thailand), through a share transfer arrangement. The move involves the repayment of a portion of a $7.5 million loan, with a change in ownership amounting to a 39% stake in GPE Thailand, worth approximately $220,860. The strategic share transfer is part of an amendment to the original shareholders’ agreement dating back to 2019.
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