Mary Chia (SGX:5OX) through its subsidiary, Mary Chia Beauty and Slimming Specialist, entered into debt capitalization agreements with Suki Sushi, Ho Yow Ping, Planhouse Deco and Su Jun Ming for certain outstanding amounts.
The subsidiaries will capitalize about SG$2.0 million in outstanding amounts by way of procuring the allotment and issuance of 95,956,468 new shares in Mary Chia at SG$0.021 apiece to the four parties, according to a filing with the Singapore Exchange on Wednesday.
The outstanding amounts relate to loans extended to Mary Chia Beauty by Suki Sushi and Ho Yow Ping, loans extended to Mary Chia by Su Jun Ming, and an amount payable for certain interior
renovation works carried out by Planhouse Deco for Mary Chia Beauty.
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