Hence, assuming conversion at the maturity date, the maximum amount of the consideration will be US$3.7 million.
SINGAPORE (Apr 26): Memories Group is acquiring a 15.28% stake in Strand Hotel International from Oakfame Investment and its holding company, Sun Hung Kai & Co.
The consideration will be settled by way of issuance of unlisted convertible bonds amounting to US$3.2 million ($4.4 million) at the coupon rate of 5% per annum. The group has entered into a conditional convertible bond subscription agreement with Oakfame, whereby the group will issue and Oakfame will subscribe for the convertible bonds.
