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Metech International Limited
Metech International Limited is a Singapore-based investment holding company listed on the SGX-Catalist Board. The principal activities of the subsidiaries are in electronic waste management, precious metal recovery from electronic waste and supply chain management, serving a wide range of clients including governments, enterprises, manufacturers and local communities.
$X,000,000
Y% undefined $X,000,000
Z
7 years ago
Overview

 

Unaudited Results for Q1 ended 30 September 2016

2016 Annual Report - Year Ended 30 June, 2016

 

1.  Executive Summary

Metech International Limited (the “Company”) is seeking to raise $2,000,000 SGD through an offer of Notes made exclusively to the FundedHere investment community.  The offer is available through the FundedHere online platform in denominations of $50,000 SGD. The Notes are paying 8% per annum and are secured by a charge over the shares of a significant shareholder of the Company, which are held by a trustee on behalf of the Noteholders. Shares pledged as collateral will be held by the Central Depository (Pte) Limited (“CDP”) over the term of the Notes and interest payments will be paid directly to the Noteholder’s CDP accounts or bank account (as the case may be).

 

2.  Company Background

The Company is a Singapore-based investment holding company listed on the SGX-Catalist Board.

The principal activities of the Company’s subsidiaries are in electronic waste management, precious metal recovery from electronic waste and supply chain management, serving a wide range of clients including governments, enterprises, manufacturers and local communities.

The Company is active mainly in three countries: United States of America, Singapore and China.

The American subsidiary operates 5 facilities across the country, from the West Coast to the East Coast, namely at Gilroy, Salt Lake City, Denver, Creedmoor and Clinton. It offers electronic waste management services to multi-national companies and government.

In Singapore, the Company is active in the recovery of precious metal from electronic waste and counts multi-national electronic manufacturing companies as its clients. It is also in the secure data destruction business and sale of reuse IT equipment.

In China, business is focused on supply chain management where standardised exchange-traded copper-related products are traded.

 

3.  Growth Plans

The Company is searching for growth outside of the electronic waste sector, having assumed that it will be more difficult to scale up this business segment in the coming year.

Greater emphasis has been placed on growing the Company’s supply chain management business and expanding beyond the current focus on copper concentrates.

 

4.  Use of Funds Raised

The funds raised by the Company through the issuance of the Notes will be used to expand the supply chain management business.

 

5.  Security

A substantial shareholder of the Company will charge a substantial amount of his shares in the Company as security collateral to be placed with a third party trustee appointed by FundedHere for the issue of the Notes.

 

6.  Key Terms of the Notes

Principal Amount

$2,000,000

Currency

Singapore dollar

Denomination

$50,000

Term

24 months

Interest Rate

8% per annum

Interest Payment Frequency

Quarterly

Amortization

50% of Principal Amount repayable after first 12 months

 

7.  IMPORTANT NOTICE

This document is issued by FundedHere for and on behalf of the Company. FundedHere does not give any representation or warranty as to the Company or as to the accuracy, reliability or completeness of any information set out herein or any documents, information or materials relating to the issue, offer or sale of the Notes by the Company.

Investment in the Notes may result in partial or total loss of your principal and/or interest. Noteholders are unsecured creditors of the Company as the security provided is in respect of the shares of the Company (and not assets of the Company). Secured and preferred creditors of the Company will therefore rank ahead of Noteholders in the event of the winding up of the Company.

A prospective purchaser of the Notes should obtain its own legal, financial, tax and other advice in connection with the investment in the Notes. A prospective purchaser of the Notes shall make its own assessment of the foregoing and other relevant matters including the financial condition and affairs and the creditworthiness of the Company. Its investment shall be deemed to be based on its own independent investigation of the financial condition and affairs and its appraisal of the creditworthiness of the Company, its respective subsidiaries and associated companies (if any).

Any documents, information or materials relating to the issue, offer or sale of the Notes by the Company are made available to the recipients thereof solely on the basis that they are persons falling within the ambit of Section 274 and/or Section 275 of the Securities and Futures Act (Cap 289 of Singapore) (the “SFA”). Any purchaser of the Notes agrees and acknowledges that in the event that the Notes are sold within the period of 6 months from date of acquisition of the Notes to any person other than (a) an institutional investor; (b) an “accredited investor” or any other “relevant person” as provided in section 275(2) of the SFA; or (c) any person pursuant to an offer referred to in section 275(1A) of the SFA, then, if applicable, the purchaser shall comply with the prospectus and other relevant requirements set out in Part XIII Division 1 Subdivisions 2 and 3 of the SFA. The Company and FundedHere shall not be liable for any breach by the purchaser of such provisions and the purchaser shall keep the Company and FundedHere indemnified against any losses, costs or expenses that the Company or FundedHere may suffer or incur as a result of the purchaser’s breach.

As the Notes will be secured with a charge over the shares of a substantial shareholder of the Company, purchasers of the Notes should familiarize themselves with the disclosure of interest requirements in respect of their interest in the Company’s shares as set out in the SFA. Where enforcement of the share charge securing repayment of the Notes is in respect of more than 30% of the shares of the Company, such enforcement may be subject to the provisions of the Singapore Code on Take-overs and Mergers (“Code”). Enforcement of the security may be hindered or prevented if the enforcement is not carried out in accordance with the provisions of the Code.

The Notes will not be listed on any stock exchange and therefore they constitute an illiquid investment.

$Y,000,000
SGDNaN
loan
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