General Announcement::Receipt of Notice of Demand

Issuer & Securities

Issuer/ Manager
INNOPAC HOLDINGS LIMITED
Securities
INNOPAC HOLDINGS LIMITED - SG2D65002396 - I26
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
09-Aug-2020 12:12:25
Status
New
Announcement Sub Title
Receipt of Notice of Demand
Announcement Reference
SG200809OTHR8YTU
Submitted By (Co./ Ind. Name)
Henry Lim Heng Lin
Designation
independent director
Effective Date and Time of the event
11/08/2020 17:00:00
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of Innopac Holdings Limited (the Company ), and together with its subsidiaries, the Group ) wishes to announce that the Company has received a notice of demand dated 6 August 2020 ( Notice of Demand ) from Joymaker International Limited ( Lender ) for $943,532.76 for the outstanding amount as at 31 July 2020 pursuant to the Loan Restructuring Agreement dated 12 July 2019 entered between the Company and the Lender.

Notice is given in the Notice of Demand that the Lender expects the Company to repay all the outstanding amount within 7 days upon receipt of the Notice of Demand.

The Company is currently reviewing and verifying the Notice of Demand and will keep the shareholders informed on material developments.


BY ORDER OF THE BOARD
INNOPAC HOLDINGS LIMITED


Henry Lim Heng Lin
Independent Director
9 August 2020

Attachments