EQUATION CORP LIMITED
(Incorporated in the Republic of Singapore)
(Company Registration No. 197501110N)
This announcement has been reviewed by the Company’s Sponsor, KW Capital Pte. Ltd., for
compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (“SGX-
ST”). The Company’s Sponsor has not independently verified the contents of this announcement.
This announcement has not been examined or approved by the SGX-ST and the SGX-ST
assumes no responsibility for the contents of this document, including the correctness of any of
the statements or opinions made or reports contained in this announcement.
The details of the contact person for the Sponsor are:
Name: Mr. Hoon Tai Meng
Address: 80 Raffles Place, #25-01 UOB Plaza 1, Singapore 048624
Tel: (65) 6238 3377
VARIATION TO LOAN (“ECL LOAN”) EXTENDED TO AN ASSOCIATE, CENTILLION
ENVIRONMENT & RECYCLING LIMITED
(“CENTILLION”) AND
IRREVOCABLE
UNDERTAKING BY EQUATION CORP LIMITED (“THE COMPANY”) FOR THE RIGHT
ISSUES BY CENTILLION.
This announcement is made further to the announcement made by the Company on 1 July 2009
and 3 July 2009 relating to inter alia, the ECL Loan and the Rights Issue by Centillion.
1.
Variation to ECL Loan
1.1
Centillion and the Company have on 4 September 2009 executed a letter of variation
("Letter of Variation") varying certain terms of the ECL Loan.
1.2
Under the Letter of Variation, the Company agreed to increase the ECL Loan from
S$500,000 to S$2,000,000.
1.3
Pursuant to the Letter of Variation:-
(a)
the Company has given an irrevocable undertaking to Centillion to take up and
pay for 400,000,000 Rights Shares ("ECL Undertaking Shares") (the "ECL
Undertaking") in accordance with the terms of the Rights Issue by Centillion.
(b)
the Company agrees that Centillion may apply the ECL Loan towards payment
for the Company's application for the ECL Undertaking Shares and all such
amount applied shall be deemed pro tanto full and final repayment of