Transcu

Transcu: lifts trading halt at 8.30am. Judgment has been obtained by SL Dev against a subsidiary of Transcu, for the sum of $1.5m with interest, pertaining to rental arrears. The court has also awarded damages to SLD which has to be separately assessed. SLD has since agreed on the basis of goodwill, to a standstill on the enforcement of its judgment debt till 17 Jul 2013, to allow both parties to explore possible options to resolve the present dispute. Separately, Asia Green Tech, an existing shareholder of the company, intends to subscribe for tranches of a bond issue amounting to US$3.5m. The co anticipates that part of the proceeds received will be sufficient to settle the judgment debt before the standstill deadline.