Chaswood extends planned S$50 million issue of 1% convertibles

By Rebecca Melvin

Concord, N.H., June 1 – Chaswood Resources Holdings Ltd. and subscribers of its planned S$50 million 1% equity-linked redeemable convertible notes have agreed to extend the fulfillment date of their agreement three months to Aug. 31, according to a notice.

The notes, which will have a tenor of 36 months from the closing date, are being subscribed to by Advance Opportunities Fund and Advance Opportunities Fund 1.

The extension was outlined in a third supplemental agreement. The terms and conditions of the agreement had been extended previously to Nov. 30, 2020 from May 29, 2020, and to May 31, 2021 from Nov. 19, 2020, to allow more time to finalize the terms.

Chaswood is an investment holding company that operates casual and American style restaurants in Malaysia and Singapore.

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