The debt conversion involves conversion of the loan from Caterine Limited into new ordinary shares in the capital of the company, and the proposed placement of 19,748,000 new shares at a placement price of 3.5 cents per share to certain subscribers.
Singapore Institute of Advanced Medicine (SAM) Holdings has received the listing and quotation notice from the SGX-ST for the listing and quoting of 169,474,000 new shares on the Catalist board.
On Sept 30, the company announced that it would be undertaking a debt conversion and share placement exercise to strengthen its financial position and improve its cash flow.
