(Alliance News) - New Trend Lifestyle Group PLC on Friday said it has completed a placing of 50 million new shares to settle a debt.
"Feng Shui specialist" New Trend issued the shares at 0.42 pence a share, raising GBP210,000.
The issue, it said, comes after talks with a creditor, Zishange Capital Management Pte Ltd, which was, as of April 30, owed SGD353,317, or GBP208,289, by New Trend's Singapore subsidiary.
Following the issue, Zishange will own 22% of the company. Shares were untraded on Friday, last quoted at 0.25p each.