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SINGAPORE: Mainboard-listed e-waste recycling firm Centillion Environment said Friday it has reached a settlement agreement with two of its creditors.
It will issue some 44 million shares to its vendors, Metech and GRX, as part repayment for money owed.
Each share is priced at 1.8 Singapore cents.
The rest of the roughly S$4.6 million debt that Centillion owes to the vendors will be repaid in cash after the firm completes its rights issue.
Earlier this week, Centillion said it will issue new shares in a rights issue aimed at raising about S$9 million in net proceeds.
Most of the money will go towards paying debt, as well as for working capital purposes.
- CNA/yb
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