Tritech Group (SGX:5G9) has exercised its put option, requiring Protocol Capital to subscribe for 287.8 million shares at SG$0.05 each, according to a Thursday filing on the Singapore Exchange.
The total proceeds amount to SG$14.4 million, due within seven market days. The company has not received confirmation from Protocol Capital or other investors on exercising their call options. Tritech also said it is not certain or there is no assurance that Protocol Capital will proceed to pay the consideration due.
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