TOTM Technologies (SGX:42F) signed a loan agreement with CEO and substantial shareholder Pierre Prunier, securing up to SG$500,000, according to a Thursday filing on the Singapore Exchange.
The loan, bearing an interest rate of 6% per annum, will be repayable within 12 months.
Prunier, who holds a 12.3% stake in the company, will provide the funds for working capital purposes. If Prunier steps down as CEO, the loan will be repayable on demand.
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