Ellipsiz Restructures Indoor Golf Simulator Business; Shares Down 6%
MT Newswires11-06 13:08
Ellipsiz (SGX:BIX) subsidiary, E Golfing, restructured its indoor golf simulator collaboration with UPlay Ventures and Orchid Country Club, according to a Thursday filing with the Singapore Exchange.
Orchid Country Club will take over management and operations of the indoor golf simulator center from Nov. 9, while E Golfing will lease the installed equipment to the club for SG$8,000 a month.
The restructuring will allow E Golfing a stable cash flow, with a one-time write-off of around SG$800,000 also expected for the fiscal year ending June 30, 2027.
Shares of the semiconductor company were down over 6% in Friday trading.
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