Zico Holdings (SGX:40W) received a listing and quotation notice for up to 49,261,083 conversion shares at SG$0.0406 per share, according to a Thursday filing with the Singapore Exchange.
The conversion shares have been listed and quoted after the company signed convertible loan agreements worth up to SG$2 million with investors Yap Wee Chun, Kok Chee Kheong, Wong Kwok Yuen and Hamdan (L) Foundation.
Under the agreement, the loan, carrying an 8% annual interest, was to be converted into up to 49.3 million new shares at SG$0.0406 each-a 10% premium to the three-month volume-weighted average price on the Singapore Exchange.
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