Intraco Exercises Option to Increase Stake in SlideSG

MT Newswires

01/02

Intraco (SGX:I06) exercised an exchange option to acquire around 60.1% in SlideSG held by iAPPS, according to a Friday filing with the Singapore Exchange.

In a previous filing, the company had agreed to extend an exchangeable loan of SG$3 million to iAPPS, with failure of repayment allowing the company to acquire shares in SlideSG held by iAPPS.

After the exchange loan was not repaid by Jan. 2, the company exercised the exchange option to exchange the exchangeable loan into 750,200 shares in SlideSG.

Following the transaction, the company now owns around 80% of SlideSG and will also change its name to iChange.

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