Hatten Land Limited (Under Judicial Management) Provides Critical Update on Secured Facility Agreement

Key Highlights of the Announcement

• Full Settlement of Indebtedness to Brilliant: Hatten Land Limited has fully settled its financial indebtedness under the Secured Facility Agreement with Brilliant, which was originally entered into on 23 December 2025.
• Refinancing Through Skyone: The settlement was made possible by drawing down on a new loan facility from Skyone, for which an agreement was executed on 13 March 2026. The proceeds from this new facility were used to refinance the outstanding debt with Brilliant.
• Cancellation and Termination of Previous Agreements: Following the full repayment, a deed of discharge and release was executed on 16 March 2026 by Brilliant. This deed irrevocably cancels the facility under the Secured Facility Agreement, and simultaneously terminates both the agreement itself and the Assignment of Receivables. All rights and obligations of both parties under these agreements cease immediately, including the equity conversion mechanism that was previously available to Brilliant.

Price-Sensitive and Investor-Relevant Information

• Removal of Equity Conversion Risk: The termination of the equity conversion mechanism at Section 6 of Schedule 1 of the Secured Facility Agreement is a significant development. With the discharge, there is no longer a risk of dilution to existing shareholders from a potential debt-to-equity conversion by Brilliant.
• Potential Impact on Share Value: The refinancing and full repayment of debt to Brilliant, and the clean termination of related agreements, could be viewed positively by investors, as it improves the company’s financial clarity and eliminates a source of overhang risk related to debt covenants and conversion mechanisms.
• Ongoing Suspension of Shares: It is important to note that the shares of Hatten Land Limited have been suspended since 6 August 2024. Although the company is actively managing its liabilities, trading in its shares remains halted. Shareholders and potential investors should exercise caution and closely monitor further announcements.

Detailed Developments

The Judicial Managers of Hatten Land Limited have announced that, pursuant to the execution of a new facility agreement with Skyone on 13 March 2026, the company has used part of the loan amount to fully repay the financial indebtedness owed to Brilliant under the previous Secured Facility Agreement dated 23 December 2025.

Following this full repayment, a comprehensive deed of discharge and release was executed on 16 March 2026 by Brilliant. This deed confirms that:

• The facility under the Secured Facility Agreement is now irrevocably cancelled in full.
• The Secured Facility Agreement and the Assignment of Receivables are both terminated with no further rights or obligations accruing to either party.
• All mechanisms, including the equity conversion mechanism (a potentially dilutive feature for shareholders), are immediately extinguished.

Hatten Land’s Judicial Managers have indicated that further announcements will be made if and when there are material developments. They have also reminded shareholders and investors to consult their brokers or professional advisers if uncertain about how to proceed, given the ongoing suspension of trading in Hatten Land shares.

Additional Regulatory Note

This announcement has been reviewed by the Company’s sponsor, RHT Capital Pte. Ltd., but has not been reviewed or approved by the Singapore Exchange Securities Trading Limited (SGX-ST). The SGX-ST assumes no responsibility for the content or accuracy of this announcement.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are strongly advised to consult with their financial advisers before making any investment decisions. The shares of Hatten Land Limited are currently suspended. All information is based on company announcements as of 16 March 2026 and may change without notice.

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