Advanced Systems to Settle SG$2 Million Debt to Advanced Opportunities Through Share Issue

MT Newswires

01/08

Advanced Systems Automation (SGX:WJ9) agreed to a conditional debt-to-equity swap agreement with Advanced Opportunities Fund (AOF), according to a Thursday filing with the Singapore Exchange.

Under the deal, Advanced Systems will allot and issue around 555.6 million shares at SG$0.0036 per share to AOF as full and final satisfaction of the SG$2 million debt.

Following the conclusion of the swap, Advanced Opportunities will have a 25.02% stake in the company, according to a Thursday filing with the Singapore Exchange.

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