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Capital World further extends bond repayment date
CATALIST-LISTED Capital World has once more extended the repayment date for certain bonds to June 30, 2019, it announced on Friday night.
This follows its May 2 announced that it had agreed with convertible bondholder Chong Thim Peng to extend the repayment date of Series A Tranche 2 bonds of S$3 million to May 31, 2019, from the original May 1 date, inclusive of interest.
On May 31, Capital World agreed with Mr Chong to extend the repayment date of these bonds to June 30, including the payment of additional interest of 10 per cent per annum on the S$3 million, for the period from June 1 up to and including June 30, 2019.
Capital World said its board and management "are of the opinion that the terms set out above to fulfil the company's obligations under the convertible bond subscription agreement and the discharge of the charged shares are in the best interests of the company". It said it would make relevant update announcements as and when there are material developments.
Capital World shares closed up 0.1 Singapore cent or 3.85 per cent at 2.7 Singapore cents on Friday before the news.