Its CEO Jed Mok will be re-designated as its chief content officer, while Jonathan Zhang will be appointed as Vividthree’s deputy CEO.
On Jan 5, Vividthree announced that it had entered into a convertible loan note agreement with GammaR — Zhang is the sole shareholder of GammaR.
Under the terms of the convertible loan note agreement, Vividthree has agreed to subscribe for up to $4.08 million convertible loan notes in GammaR. As at May 31, Vividthree has subscribed for $700,000 of convertible loan notes.
Moving forward, Zhang will abstain from all discussions and deliberations relating to the Group's dealings with GammaR, the company noted.
Shares in Vividthree closed unchanged on May 31 at 4.3 cents.
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