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Restructuring of the Corpbond Loans......
Corpbond Loans will expire between March 2022 to November 2022, and the Company has been
in discussions with Corpbond to explore the possibility of restructuring the Corpbond Loans into
convertible bonds with a new maturity date beyond 2022 (' Possible Restructuring of the Corpbond
Loans' ).
Such discussions, if successful, will enable the maturity date of the Corpbond Loans to be extended,
MakeChanges ( Date: 21-Jan-2022 08:07) Posted:
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$NutryFarm(AZT.SI)
To be honest, this sounded like issues previously in the company before new management take over.
The current business is definitely working out and money is coming in. The shell of the old business probably has too much for the new business to bare. Hopefully everything works out.
Not vested/or rather fully sold out.
https://links.sgx.com/1.0.0/corporate-announcements/V3H937U2YXSPRULI/1ee5b7dc09496ce7f7cf349ec35e9d08ae0904005a55cd09d29577b04057e9dc
This season also no see people buy or eat durians. Try sell nuts .
RichardTeo ( Date: 21-Jan-2022 12:03) Posted:
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Stabilisation
Possible Restructuring of the Corpbond Loans
As previously announced on 3 August 2021, these third-party loans were originally from two companies,
New Star Education Limited (' New Star' ) and Furong Corpbond II Ltd (subsequently renamed
Corpbond IV Ltd) (collectively the ' Corpbond Loans' ). Corpbond Loans are made up of 12 tranches,
disbursed to the Company between 17 April 2017 to 13 November 2018, including 5 tranches which
were originally disbursed to the Company by New Star but transferred by way of novation by New Star
to Corpbond IV Ltd (' Corpbond' ) on 29 January 2021 (the ' Transfer' ).
The Corpbond Loans will expire between March 2022 to November 2022, and the Company has been
in discussions with Corpbond to explore the possibility of restructuring the Corpbond Loans into
convertible bonds with a new maturity date beyond 2022 (' Possible Restructuring of the Corpbond
Loans' ).
Such discussions, if successful, will enable the maturity date of the Corpbond Loans to be extended,
with the possibility of the Company&rsquo s balance sheet being strengthened should the convertible bonds
be converted to equity (whether in whole or in part).
As at the date of this announcement, the Company has yet to reach any definitive agreement with
Corpbond in relation to the Possible Restructuring of the Corpbond Loans. Shareholders should note
that there is no guarantee or assurance that the Company will be able to reach a definitive agreement
with Corpbond on the Possible Restructuring of the Corpbond Loans, and what may be the relevant
terms thereof.
Pre-action discovery proceedings commenced against the Company
On 14 December 2021, the Company was served with an application to the Singapore High Court for a
Court order that the Company disclose certain documents relating to, inter alia, the Corpbond Loans
and the Transfer. The application was made by an individual who has alleged inter alia, that he had
provided funding to New Star for the loans originally disbursed by New Star to the Company.
Prior to commencement of the proceedings, the individual had written to the Company to request for
these documents. However, amongst other reasons, the Company' s confidentiality obligations in
relation to these documents prevents the Company from disclosing these documents without a Court
order.
The Company has appointed legal advisers to represent the Company in relation to the proceedings
before the High Court. The Company understands that the relief sought by the individual in these
proceedings relates only to whether the Company is required to disclose these documents to the
individual and does not concern the merits of the allegations made by the individual.
No claim or demand has been initiated by the individual against the Company at this time.
As previously announced on 3 August 2021, these third-party loans were originally from two companies,
New Star Education Limited (' New Star' ) and Furong Corpbond II Ltd (subsequently renamed
Corpbond IV Ltd) (collectively the ' Corpbond Loans' ). Corpbond Loans are made up of 12 tranches,
disbursed to the Company between 17 April 2017 to 13 November 2018, including 5 tranches which
were originally disbursed to the Company by New Star but transferred by way of novation by New Star
to Corpbond IV Ltd (' Corpbond' ) on 29 January 2021 (the ' Transfer' ).
The Corpbond Loans will expire between March 2022 to November 2022, and the Company has been
in discussions with Corpbond to explore the possibility of restructuring the Corpbond Loans into
convertible bonds with a new maturity date beyond 2022 (' Possible Restructuring of the Corpbond
Loans' ).
Such discussions, if successful, will enable the maturity date of the Corpbond Loans to be extended,
with the possibility of the Company&rsquo s balance sheet being strengthened should the convertible bonds
be converted to equity (whether in whole or in part).
As at the date of this announcement, the Company has yet to reach any definitive agreement with
Corpbond in relation to the Possible Restructuring of the Corpbond Loans. Shareholders should note
that there is no guarantee or assurance that the Company will be able to reach a definitive agreement
with Corpbond on the Possible Restructuring of the Corpbond Loans, and what may be the relevant
terms thereof.
Pre-action discovery proceedings commenced against the Company
On 14 December 2021, the Company was served with an application to the Singapore High Court for a
Court order that the Company disclose certain documents relating to, inter alia, the Corpbond Loans
and the Transfer. The application was made by an individual who has alleged inter alia, that he had
provided funding to New Star for the loans originally disbursed by New Star to the Company.
Prior to commencement of the proceedings, the individual had written to the Company to request for
these documents. However, amongst other reasons, the Company' s confidentiality obligations in
relation to these documents prevents the Company from disclosing these documents without a Court
order.
The Company has appointed legal advisers to represent the Company in relation to the proceedings
before the High Court. The Company understands that the relief sought by the individual in these
proceedings relates only to whether the Company is required to disclose these documents to the
individual and does not concern the merits of the allegations made by the individual.
No claim or demand has been initiated by the individual against the Company at this time.
LIFTED
wat happened?
Sibehboeng ( Date: 18-Jan-2022 11:49) Posted:
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https://links.sgx.com/1.0.0/corporate-announcements/V3H937U2YXSPRULI/1ee5b7dc09496ce7f7cf349ec35e9d08ae0904005a55cd09d29577b04057e9dc
Wouldn' t it depend largely on what news they are going to release? Worst is they go into suspension...
Sgvale ( Date: 19-Jan-2022 13:41) Posted:
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Will it rebound?
Halted Good or bad?
bye bye..... too much debt, durian cannot sell.
Don' t think so
Tempest ( Date: 18-Jan-2022 13:23) Posted:
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agree
newbie888 ( Date: 18-Jan-2022 12:55) Posted:
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The deposits " kantong" all relates to acquistions of sino cos by controlling sino directors.. If it is part of a sino scam syndicate to siphon shareholders $$ abroad, forget of recovery my fren... All will kick the bucket soon,,,
newbie888 ( Date: 18-Jan-2022 12:55) Posted:
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Looking at the way the price tank and now the halt. Most likely is bad news coming... if it' s indeed bad news, then the director is not forthcoming in replying to query and allows insider trading continue.. even at that point of time the discussion is still on going, he could have keep the shareholders updated. No ?
Must be company directors buey tahan the drop call for halt. Drop 2/3 of value in 2 weeks, they lose $ like siao.
Chances are there...
trader1970 ( Date: 18-Jan-2022 11:37) Posted:
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Siow liao.. Risk of Halt to be a suspension increases... For those whom have sold off oredi you wont regret and have to thank God as the risk of holding on to a rotten and inedible durians become high.. judging from the steep fall and high vol since 5Jan... Smelly announcements in the making....?
MakeChanges ( Date: 18-Jan-2022 11:32) Posted:
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TRADING HALT !