OxPay Financial (SGX:TVV) has obtained a whitewash waiver from the Securities Industry Council, according to a Monday filing with the Singapore Exchange.
This waiver permits the issuance of conversion shares to the undisclosed lender without triggering a mandatory general offer.
Conditions include obtaining shareholder approval via a Whitewash Resolution, appointing an independent financial adviser, and providing detailed information in a circular.
The waiver is subject to further conditions and there is no certainty the convertible loan facility will proceed.
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