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Vividthree Holdings Ltd. ( (SG:OMK) ) has issued an update.
Vividthree Holdings Ltd. has disclosed that United Overseas Bank Limited has terminated its money market line and temporary bridging loan facilities extended under the Enterprise Financing Scheme, demanding immediate repayment of S$1,169,482.37 within seven days. The loans were originally a S$5 million temporary bridging loan taken in April 2020 under a Covid-19 support scheme and a S$1 million money market line obtained in October 2019, with the bulk of the outstanding amount tied to the latter. The company is engaging with the lender to seek alternative settlement arrangements and is concurrently in talks with several parties for fundraising, with the board cautioning that the group’s ability to continue as a going concern hinges on the success of these efforts. While the board believes trading in its shares can proceed in an orderly manner and is unaware of other legal actions, it has urged shareholders and potential investors to exercise caution and await further updates.
The most recent analyst rating on (SG:OMK) stock is a Hold with a S$0.02 price target. To see the full list of analyst forecasts on Vividthree Holdings Ltd. stock, see the SG:OMK Stock Forecast page.
More about Vividthree Holdings Ltd.
Vividthree Holdings Ltd., incorporated in Singapore, operates through its subsidiaries as part of a broader group structure, though this announcement does not specify its exact industry or core products and services.
Average Trading Volume: 768,729
Technical Sentiment Signal: Sell
Current Market Cap: S$12.03M
For an in-depth examination of OMK stock, go to TipRanks’ Overview page.