Tritech Enters Debt Conversion Agreements with Lenders; Shares Surge Nearly 13%

MT Newswires

01/09

Tritech (SGX:5G9) entered into debt conversion agreements with two lenders for outstanding debts, at a conversion price of SG$0.0130 per share, according to a Thursday filing with the Singapore Exchange.

Shares of the integrated manufacturing company surged nearly 13% in Friday trading.

The lenders include Lee Sui Hee, who has a 6.59% stake in the company, and is owed around SG$5.7 million and Zhou Xinping, an executive director who has a 0.001% stake and is owed around SG$352,389.

The debt conversion agreements will allow the company to reduce its indebtedness and improve its debt-equity ratio.

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