Anchor Resources drops proposed S$10m notes issue

GOLDMINE operator Anchor Resources will not proceed with its plans to issue S$10 million in unsecured redeemable equity-linked notes, the company said in a bourse filing on Thursday. 

Back in March, Anchor said that Advance Opportunities Fund and Advance Opportunities Fund I had agreed to subscribe for the notes, which carry a 1 per cent annual coupon and are due in 2022.

The subscribers have acknowledged that there will be no cancellation fee, Anchor said in the filing. The company does not expect the cancellation to have any material impact on its financials for the current year ending Dec 31, 2019.