Accrelist Ltd. (Catalist:5RJ) announced that it has entered into a convertible loan agreement for gross proceeds of SGD 4,000,000 on November 22, 2016. The transaction will include participation from Singapore Rixin Zhonghe Investment Pte. Ltd. The loan will be convertible into common shares of the company based on either 90% of the volume weighted average price of the shares for five consecutive trading days or based on 100% of the net assets value per share as at November 21, 2019, whichever is higher. The term of the loan is for three years. The loan carries fixed interest rate of 8% per annum. The company shall repay the loan on repayment date. The transaction is subject to fulfillment of precedent conditions. On June 15, 2017, the company announced that the loan will be convertible into the common shares of the company based on either 90% of the volume weighted average price of the shares preceding the date of the convertible loan agreement or based on 100% of the net assets value per share as at the conversion date, at the discretion of the company.