Emperador agrees cash settlement for part of Tranche 2 ELS
SGX Filings
Aug 24
Emperador Inc. (EMP) announced that it has reached an agreement with Arran Investment Pte Ltd to settle 193,103,449 Tranche 2 exchangeable preferred shares through a cash payment of 1.4 billion Singapore dollars, replacing the previously planned conversion into common shares.
The remaining 281,896,551 Tranche 2 ELS shares remain eligible for conversion, with the conversion window already extended to Mar, 31 2027.
The exchangeable loan structure (ELS) was first issued on Dec, 04 2014, and was originally slated for full conversion by Feb, 28 2022 before undergoing a series of deadlines, the latest being the March 2027 extension.
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