Medi Lifestyle Secures Loan from Controlling Shareholder
MT Newswires05-20
Medi Lifestyle (SGX:Z4D) signed a loan agreement with controlling shareholder, Chua Yi Hang, for a non-interest bearing loan of up to SG$480,000, according to a Wednesday filing with the Singapore Exchange.
The loan comprises the previously advanced SG$200,000 and a balance sum of SG$280,000.
Chua currently has a 25.06% stake in the company.
Under the agreement, Chua will have the right and option to make changes to the board during the loan's one-year term.
Proceeds from the loan will be used for general working capital needs and for corporate activities.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.