Inphosoft Pte. Limited

September 25, 2015 17:00 ET

Inphosoft Pte. Limited Converted All of Its Convertible Debentures of GINSMS Inc. Into Common Shares

SINGAPORE, SINGAPORE--(Marketwired - Sept. 25, 2015) - Inphosoft Pte. Limited ("IPL"), a company in which GINSMS Inc.'s Chief Executive Office, Mr. Joel Chin, is a shareholder and a director announces that it has converted all of its convertible debentures of GINSMS (the "Convertible Debentures") having an aggregate principal amount of C$2,853,783 into 28,537,830 common shares (the "Common Shares") at the conversion price of C$0.10 per common share (the "Transaction").

Immediately after the Transaction, IPL will own 28,537,830 common shares of GINSMS, representing 20.01% of all issued and outstanding common shares of GINSMS.

IPL acquired the Convertible Debentures pursuant to a share purchase agreement entered into with GINSMS in 2012. The conversion of the Convertible Debentures into Common Shares required no prospectus exemption.

Contact Information

  • Inphosoft Pte. Limited
    Joel Chin
    Tel: 65-64411029
    10 Eunos Road 8, #13-08,
    Singapore Post Centre, Singapore 408600