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NutryFarm International ( (SG:AZT) ) has issued an update.
NutryFarm International has entered into a share conversion agreement with Corpbond IV Ltd under judicial management, allowing the company to issue new ordinary shares in exchange for discharging approximately S$34.3 million of debt owed to the investor and minority creditors. The proposed conversion, to be executed in stages and subject to shareholder approval under SGX listing rules at an upcoming EGM, is a key step in recapitalising the balance sheet, reducing leverage, and advancing the group’s broader restructuring efforts.
By restructuring the 2017 loan and related assigned claims into equity, NutryFarm aims to transform significant liabilities into share capital and align the interests of its major creditor with the company’s long-term recovery. The move, if approved, will materially alter the ownership structure, potentially dilute existing shareholders, and could strengthen the company’s financial resilience as it exits judicial management, improving its prospects within the Singapore-listed corporate landscape.
More about NutryFarm International
NutryFarm International Limited is a Bermuda-incorporated company listed on the Singapore Exchange. The group has been under judicial management and is engaged in restructuring its capital structure and obligations to creditors through agreements with investors, including Corpbond IV Ltd, to stabilise its financial position.
Technical Sentiment Signal: Sell
Current Market Cap: S$11.68M
For a thorough assessment of AZT stock, go to TipRanks’ Stock Analysis page.