The four-year debt will carry 8% interest and can be swapped for shares at a price of SGD 0.21.
This is a premium of 12.3% over the average share price on 24 March.
If taken up in full, Beng Kuang will issue 23.8m shares representing 4.4% of the issued capital.
Former director Cheong Hock Wee is taking SGD 0.5m, while six other private investors are buying the rest.
The
