Annica Holdings extends redemption date for convertible bonds till March next year

SINGAPORE - Catalist-listed Annica Holdings on Wednesday (April 11) said it has entered into an agreement with Premier Equity Fund Sub Fund F and fund manager Value Capital Asset Management to extend the redemption date for its convertible bonds until March 31, 2019.

In a filing to the Singapore Exchange, Annica, an investment holding company, said the parties have agreed in writing to extend the redemption "in order to improve the short-term cash flow of the company".

The firm will redeem the bonds at 100 per cent of the principal amount on end-March next year, unless they are previously redeemed, converted or purchased and cancelled.

The conversion period for the bonds will not be extended and shall remain as Dec 24, 2018 as the maturity date stands at Dec 30, 2018, Annica said.

The counter last traded at 0.1 Singapore cent on April 2, unchanged from the previous day's close.

Annica is an investment holding company with subsidiaries operating mainly in Singapore, Malaysia, Indonesia, Thailand and Vietnam, providing power generation solutions, rendering engineering services, and trading in oil and gas equipment.