InvestmentApr 29, 2026, 04:33 PM
VSME Converts Debt to Equity in S T Meng, Gains 41.52% Stake
AI Summary
VS MEDIA Holdings Ltd (VSME) announced a one-off debt-to-equity conversion with S T Meng, replacing prior conversion mechanics. The conversion price is US$74.70 per share of S T Meng's ordinary shares, with accrued interest settled through cash, waiver, or capitalization. This action irrevocably satisfies the Principal Amount, and as a result, VSME and its subsidiaries now collectively hold 41.52% of the voting rights in S T Meng.
Key Highlights
- Debt-to-equity conversion with S T Meng completed on April 27, 2026.
- Conversion price set at US$74.70 per share of S T Meng's ordinary shares.
- Accrued interest to be settled by cash payment, waiver, or capitalization into shares.
- Principal Amount of the debt irrevocably satisfied, discharged, and extinguished in full.
- VSME and its subsidiaries now hold an aggregate of 41.52% of S T Meng's voting rights.