LONDON (Alliance News) - New Trend Lifestyle Group PLC Wednesday said it has created loan notes that can be converted into shares to raise SGD1.1 million due to demand from new investors.
In a statement, the Feng Shui specialist said it will use the proceeds of the fundraising and existing cash to fund ongoing working capital requirements as it continues to expand in mainland China.
The notes will pay interest at 3% a year and will be convertible into new shares at 10 pence each.
New Trend Lifestyle's Feng Shui services include building and office design consultancy, astrology readings, marriage matching, aura readings and business talks and seminars for large corporations. These have been complemented by Tarot Cards readings and an on-line dating service using Feng Shui principles.
New Trend shares were Wednesday quoted at 7.00 pence, untraded.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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