Charisma Energy Services (SGX:5QT) signed a convertible loan agreement with Cosmic Marvel International for up to SG$10.3 million to restructure debt and resume trading on the Singapore Exchange, according to a Friday filing on the local bourse.
The agreement covers SG$21.1 million in liabilities tied to previous facility loans. SG$10.9 million will be converted into equity via new shares issued to Cosmic Marvel's parent, Yin Khing Investments, while the remainder becomes a 10% convertible loan.
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