VIP Gloves Limited (ASX:VIP) Secures RM2.75 Million Short Term Loan Ahead of Share Placement
Financial Update
VIP Gloves Limited has secured RM2,750,000 (approximately AUD$1 million) as a short-term, interest-free loan to support its working capital needs ahead of a planned share placement.
Share Placement Details
At the January 2025 Annual General Meeting, shareholders approved the placement of 288 million shares at $0.008 per share. The loan will convert to placement shares once the Company’s securities are reinstated on the ASX.
Delisting Announcement
Subject to ASX’s final determination on 10 February 2025, VIP Gloves Limited is set to be delisted from the ASX Official List.
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