General Announcement:: MEMORANDUM OF UNDERSTANDING AND CONVERTIBLE LOAN AGREEMENT WITH AQUAEASY PTE LTD
QIAN HU CORPORATION LIMITED
(Incorporated in the Republic of Singapore)
(Company registration number: 199806124N)
MEMORANDUM OF UNDERSTANDING
& CONVERTIBLE LOAN AGREEMENT WITH AQUAEASY PTE LTD
The Board of Directors of Qian Hu Corporation Limited (the “Group“or the”Society“) would like to announce that it has signed a memorandum of understanding (“PE“) with AquaEasy Pte Ltd (“AquaEasy“), a unit of the Bosch group, one of the world’s leading providers of technology and services.
AquaEasy is an Aquaculture Solutions Provider (Artificial Intelligence and Internet of Things Technology), delivering data scanning and analysis to the aquaculture community, with operations currently in Singapore, Indonesia and Vietnam . Qian Hu has significant experience in deploying AquaEasy’s suite of AI and IoT solutions in aquaculture and strong endorsement of the significant benefits achieved through the use of AquaEasy technologies in intensive farming and super intensive.
In accordance with the MOU, Qian Hu and AquaEasy agree to work together as collaborators for the enhancement of the functionality and proliferation of AquaEasy’s AI and IoT solutions and services within the industry. ‘aquaculture and to collaborate in the development of solutions in new market areas. The MOU is valid for a period of 5 years from December 20, 2021.
As part of this collaboration, Qian Hu entered into an unsecured convertible loan of S $ 1 million (“USCL“) with AquaEasy on December 20, 2021. The USCL, payable in January 2022, will end upon conversion of the loan or will expire on June 30, 2023 (or at a later date mutually agreed upon). 5% interest from the date the loan is disbursed to AquaEasy The proceeds will be used by AquaEasy for its capital expenditures and working capital requirements.
USCL, which will be internally funded, is not expected to have a significant impact on the Group’s earnings per share and net tangible assets per share for the current year ending December 31, 2021.
None of the directors or significant shareholders of the Company has a direct or indirect interest in the above transaction.
By order of the Council
Kenny yap kim lee
20 December 2021
Qian Hu Corporation Limited published this content on 20 December 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on December 20, 2021 09:19:05 AM UTC.