The company, led by executive director and CEO Dr Djeng Shih Kien, was listed on Feb 16 at 23 cents and closed at 10 cents on March 15.
Newly-listed Singapore Institute of Advanced Medicine Holdings plans to repay loans amounting to $3.4 million by issuing new shares to the creditors at 9 cents each.
According to the company on March 17, under terms of the loan, it can choose to repay this group of creditors by issuing them new shares at a 10% discount off the volume-weighted average price per share of five consecutive market days ending on the full market day on which the company
exercises its option to convert the loan.
