Addvalue Technologies (SGX:A31) received notices from the holders of its convertible loan bonds exercising the right to convert around 3.5 million bonds worth around SG$45,000 into 3.5 million shares at SG$0.013 per bond, according to a Thursday filing with the Singapore Exchange.

Shares of the company were down over 4% in Friday trading.

Meanwhile, 2.5 million shares arising from the conversion were issued and allotted to restricted persons under the company's restricted persons issue.

Concurrently, 1.0 million shares were issued and allotted to non-restricted persons.

Furthermore, the company received a notice from a warrants holder who exercised a total of 2.5 million warrants into 2.5 million shares.

In total, 6 million new shares have been issued and allotted, which will be listed and quoted on or about Nov. 26.

Total additional proceeds from the exercise of warrants is around SG$32,500, which will be used for working capital needs.