Hatten Land Limited: Major Update on Secured Facility Agreement and Potential New Loan

Key Points from the Report

• Secured Facility Agreement Delayed: Hatten Land Limited, currently under Judicial Management, previously entered into a Secured Facility Agreement with Brilliant on 23 December 2025. Although drawdown notices were issued, funding has been delayed due to cross-border transfer issues. These delays have impacted workstreams related to the Proposed Acquisition.
• Potential Shift to Alternative Lender: Due to the funding delays, the Company is in advanced discussions with an alternative lender willing to extend a new loan (the “Proposed Loan”).
• Key Differences Between Loans:
  • The Proposed Loan features a different convertible loan amount and equity conversion price compared to the Brilliant Loan.
  • No security will be required for the Proposed Loan, unlike the Brilliant Loan, which required security.
• Termination of Brilliant Agreement: If the Proposed Loan is entered into:
  • Outstanding amounts under the Brilliant Secured Facility Agreement will be repaid using proceeds from the Proposed Loan.
  • Brilliant’s commitment will be cancelled.
  • The existing Secured Facility Agreement will be terminated.
  • The existing security will be released.
• Further Announcements Expected: The Judicial Managers have indicated that further announcements will be made when material developments occur regarding these funding arrangements.
• Share Trading Status: Hatten Land shares have been suspended since 6 August 2024. Shareholders and investors are strongly advised to review this and future announcements carefully.
• Professional Advice Recommended: Shareholders and investors are urged to consult their stockbrokers, bank managers, solicitors, or other professional advisors if they have any doubts about actions to take regarding their shares.

Important Information for Shareholders

• Potentially Price Sensitive Developments:
  • The transition to a new lender and the cancellation of the Brilliant agreement represent significant changes in the Company’s funding structure.
  • The new loan terms—specifically the changes in loan amount, equity conversion price, and removal of security—could have a direct impact on the Company’s financial position and future share value.
  • Any successful funding arrangement could facilitate the Proposed Acquisition, which may be a catalyst for positive developments and affect share price once trading resumes.
  • Failure to secure funding or delays may impact the Company’s ability to execute its business plans, potentially affecting share value negatively.
• Share Suspension: With shares suspended, investors should be vigilant for further updates, as any resolution or material development regarding funding could trigger movement when trading resumes.
• Regulatory Note: The announcement has been reviewed by the Company’s sponsor but not examined or approved by the Singapore Exchange Securities Trading Limited (SGX-ST), which assumes no responsibility for the contents.

Detailed Analysis

Hatten Land Limited’s update on its funding arrangements is of critical importance to shareholders and investors. The Company’s inability to secure timely funding from Brilliant has delayed key initiatives, including the Proposed Acquisition. The alternative lender’s Proposed Loan offers a new avenue, with terms that differ in loan size, equity conversion price, and security requirements. If the Company secures this new loan, it will fully repay and terminate the Brilliant agreement, releasing any associated security.

These developments may significantly affect the Company’s financial stability, capital structure, and future prospects. The eventual resolution of funding issues and the completion of the Proposed Acquisition could be transformative, potentially impacting share values when trading resumes. Investors should monitor subsequent announcements closely and seek professional advice before making any decisions.

Contact Information

For further queries regarding this announcement, investors may contact the Company’s sponsor, Mr. Josh Tan at 36 Robinson Road, #10-06 City House, Singapore 068877, Email: [email protected].

Disclaimer

This article is for informational purposes only and does not constitute investment advice. The information has been sourced from official Company announcements and is subject to change. Investors are advised to consult professional advisors before making any investment decisions. The Singapore Exchange Securities Trading Limited has not examined or approved the contents of this article and assumes no responsibility for its accuracy.

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