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Natural Cool extends convertible bond maturity date to August 2020
NATURAL Cool Holdings has extended the maturity date of its zero coupon convertible bonds issued by HMK Energy Pte Ltd in 2014 with a principal value of US$1.68 million, the air-conditioning services company said in a Singapore Exchange filing on Wednesday.
The decision to extend the bond maturity date from August 2018 to August 2020 was approved by a super-majority vote in a meeting of bondholders held on Tuesday. The company abstained from the decision.
None of Natural Cool's directors or controlling shareholders have direct or indirect interest in the decision, except for Wong Leon Keat, a director and shareholder of Rhodus Capital Ltd, a shareholder of HMK Energy.
Mr Wong did not attend the bondholders meeting or participate in the deliberations or decision to extend the bond maturity date.
In the same update, Natural Cool also noted that an exploration programme by HMK Energy's subsidiary PT Harpindo Mitra Kharisma has been further delayed, and the relevant authorities in Indonesia have granted a time extension for the programme to be completed.
Natural Cool shares last traded at 7.2 Singapore cents on July 19.