Goodwill Entertainment (SGX:GEH) and its wholly owned subsidiary, Yakitori One, entered into a subscription and shareholders agreement with four investors, according to a filing with the Singapore Exchange on Thursday.
Under the deal, the investors will subscribe to 480,000 new redeemable non-convertible preference shares in the issued and paid-up share capital of YO. Another 200,000 shares will be subscribed to by the investors for SG$20,000.
The proposed subscription will allow the group to raise SG$500,000 which will be utilized for the repayment of a shareholder's loan provided by the company to YO and for the subsidiary's general working capital requirements.
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