NoonTalk Media to Issue Over 16 Million Shares to CEO to Settle Debt

MT Newswires05-13

NoonTalk Media (SGX:SEJ) entered into a loan capitalization deed with executive director and Chief Executive Officer Dasmond Koh Chin Eng, according to a Wednesday filing with the Singapore Exchange.

Under the deed, the company's outstanding loan amount of SG$1.8 million extended by Dasmond will be offset through the issuance of 16.4 million shares in the company at SG$0.110 per share.

Dasmond had extended the company an interest-free loan of SG$2 million on Oct. 9, 2024.

The capitalization agreement will help the entertainment company reduce its existing liabilities and give it ample legroom to focus resources on stabilizing its business activities, the filing said.

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