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Infinio enters into S$2.95m loan deal; shares actively traded before trading halt
Add BT as a preferred sourcePublished Tue, Dec 12, 2017 · 09:50 PM
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Singapore
MINERAL oil and gas firm Infinio Group on Tuesday said it has entered into a S$2.95 million loan agreement with Wang Zhen Wen. The shares will resume trading on Wednesday following a trading halt imposed earlier on Tuesday, after queries from the exchange on unusually heavy trading since last Friday.
The loan is repayable by Dec 12, 2020. In a Singapore Exchange (SGX) filing, Infinio said about S$1.06 million, or 35.9 per cent of the amount, will be used to repay loans, the majority of which are owed to shareholders at an interest rate of 12 per cent per annum.
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