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News - Detailed News Story

Polaris: Invest In 30% Stake In X-mini Through US$1.5 Million Unsecured Loan.

24 Apr 2015 15:10

Polaris Ltd's wholly-owned subsidiary, Polaris Device Pte. Ltd. has entered into an unsecured loan arrangement and subscription and shareholders agreement with XMI Pte. Ltd. and the founders of XMI, namely Lee Tze-Yen Ryan, Lee Tze-Wen Reuben and Lim Eng Hock to invest in XMI. PDPL will invest in XMI an initial 30% equity interest, comprising 300,000 ordinary shares, through the grant of an unsecured USD loan of a total principal amount of USD1,500,000/-, equivalent SGD2,021,250/-, to XMI on the terms and subject to the conditions of the Agreement...

Attachments: Source: ShareInvestor Express
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