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Tritech to issue 87.3 million new shares to capitalise shareholder loan

Gwyneth Yeo Published on Wed, Aug 24, 2016 / 5:53 PM GMT+8

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SINGAPORE (Aug 24): Tritech Group will issue 87.3 million new shares at 6.61 cents each to six Tritech International (TI) shareholders.

The proceeds will be used to capitalise a $4.97 million unsecured, interest-free loan to Tritech Group from TI, which is undergoing voluntary liquidation. The shareholder loan has been used for working capital purposes.

Tritech also owed TI an outstanding $800,000 for its January acquisition of a 54% stake in Geosoft from TI.

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