The Place Holdings (SGX:E27) entered into a supplemental agreement with shareholders to extend the payment deadline for the second tranche of a subscription consideration to within 24 months of the date of execution of the agreement, according to a filing with the Singapore Exchange on Wednesday.
Under the previous agreement, the issue price of the subscription shares subscribed by Meta Place and Stellar Experience was SG$10.0 million.
Meta Place was liable to pay SG$7.0 million in cash in two equal tranches while Stellar Experience was liable to pay SG$3.0 million in two equal tranches.
Meta Place and Stellar Experience had entered into a joint venture and shareholders agreement on May 29, 2023, by incorporating a JV company in Singapore to establish a digital media solutions company.
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