Alpha DX receives termination notice, writ of summons from sponsor

Singapore

LEARNING solutions company Alpha DX Group on Wednesday (Mar 2) said it has received a notice of termination from its sponsor, PrimePartners Corporate Finance (PPCF).

This follows a writ of summons and statement of claim filed by PPCF over unpaid sums from Alpha DX. In a bourse filing, Alpha DX said PPCF is claiming S$604,844.76 in unpaid sums payable under agreements between the 2 companies, as well as S$111,789.75 in late interest charges on the unpaid invoices. The company does not expect the claim amount, if materialised, to have a material financial impact on the group's net tangible assets or earnings per share for the financial year ending Dec 31, 2022, and said it is currently in negotiations with PPCF over the claims.