OxPay Financial Limited (SG:TVV) has released an update.
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OxPay Financial Limited has announced entering into a convertible loan agreement, which includes a waiver from the Securities Industry Council, preventing a mandatory takeover offer following the issue of conversion shares to the lender. Shareholders of the company will vote to approve this waiver at a general meeting, with the stipulation that the lender and related parties abstain from the vote. This strategic financial maneuver aims to strengthen OxPay’s capital structure without triggering a mandatory offer for remaining shares.
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