Vividthree Holdings managing director Charles Yeo Eng Pu has been re-designated as the company’s CEO effective June 1.
The company said Yeo’s terms of employment remain unchanged as he continues to serve as an executive director and a member of Vividthree’s nominating committee.
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.
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Shares in Vividthree closed unchanged on May 31 at 4.3 cents.
