The board of directors of MMP Resources Limited announced that the Company has on 25 September 2020 entered into a loan agreement with Solar Founders Limited in connection with the grant of a loan of SGD 378,000 to the Company. The Loan shall bear interest at 18% per annum and can be paid in kind or in cash. The Loan and all accrued interests are payable on demand. However, if the Company has not received any written notice from the Lender for repayment of the Loan and all accrued interests (the "Lender's Payment Notice") by the first anniversary of the Advance Date, the Company is entitled to repay the Loan and all accrued interests, in full or part thereof, on the first anniversary of the Advance Date by providing written notice to the Lender (the "Borrower's Payment Notice"). The Loan and any accrued interests may be repaid by the Company either (a) in cash, or (b) by way of the issuance and allotment of such number of shares in the Company, at a 10% discount to the average closing price of shares in the Company for the 2 trading days prior to the date of Borrower's Payment Notice or the Lender's Payment Notice (as the case may be).