Ellipsiz Ltd Announces Further Extension for Third Tranche Subscription Payment by Unicore Agri Pte. Ltd.

Key Highlights from the Announcement

• Further Extension Granted: Ellipsiz Ltd has announced that Unicore Agri Pte. Ltd. (“Unicore”) has requested – and been granted – a further extension for the payment of its Third Tranche Subscription Consideration for shares in ISE Foods Holdings Pte. Ltd. (“IFH”).
• Significant Amount Involved: The outstanding Third Tranche Payment totals S\$4,658,334.
• Revised Payment Timeline: The payment deadline, previously set for 31 December 2025, has now been extended to the earlier of:
  • 31 March 2026, or
  • Within 5 business days from the date IFH issues a Notice of Payment (the “Earlier Payment Date”) to Unicore.
• Interest Charges:
  • Unicore must pay accrued interest of S\$23,483.11 for the period from 1 October 2025 to 31 December 2025 by the original deadline of 31 December 2025.
  • From 1 January 2026, an interest rate of 2% per annum will be charged on the outstanding amount until full payment is made.
  • If IFH issues a Notice of Payment before 31 March 2026, interest will be calculated up to the Earlier Payment Date.
• Consent from IFH: IFH has consented to this further extension given there is currently no immediate need for the funds.

Important Details for Shareholders

• Potential Impact on Share Value: The extension of the payment deadline for a substantial tranche (S\$4.66 million) may impact the company’s cash flow and financial flexibility in the near term. While IFH has indicated no immediate need for funds, delays in capital inflows can affect future investment strategies and project timelines.
• Interest Income: The company stands to earn additional interest income due to the delay, which may partially offset the negative impact of the deferred payment.
• Early Payment Trigger: IFH retains the right to demand early payment with just 5 business days’ notice, providing some protection against further protracted delays.
• Shareholder Considerations: Investors should note that the repeated extensions may signal financial constraints at Unicore, which could introduce counterparty risks. Any default or further delay could be price-sensitive.

Comprehensive Overview

On 17 December 2025, Ellipsiz Ltd’s Board announced that Unicore Agri Pte. Ltd. has been granted a further extension for the payment of the Third Tranche Subscription Consideration for its investment in ISE Foods Holdings Pte. Ltd. The payment of S\$4,658,334, previously due on 31 December 2025, is now due on the earlier of 31 March 2026 or within 5 business days from the date IFH issues a Notice of Payment.

As a condition for this extension, Unicore is required to pay S\$23,483.11 in interest for the period from 1 October 2025 to 31 December 2025 by 31 December 2025. Furthermore, from 1 January 2026, interest will accrue on the outstanding principal amount at a rate of 2% per annum until full payment is received.

The extension was granted as IFH indicated there is no immediate need for the funds. However, IFH maintains flexibility with the right to call for full payment at short notice, ensuring the company’s interests are protected.

What Investors Should Watch

• Any further delays or defaults by Unicore could be a red flag and may impact the market perception of Ellipsiz Ltd’s investments and its ability to realise returns.
• The company’s ability to generate interest income from the delayed payment provides some financial cushioning.
• This development could be price-sensitive, as it affects short-term cash flows and highlights potential counterparty risk.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult professional advisors before making any investment decisions. Neither the author nor the publisher is liable for any losses incurred from reliance on this information.

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