Link: https://links.sgx.com/1.0.0/corporate-announcements/W4URDLTIO7QNDST6/5fdf19ffcf71206bcc3d154ca3fa35301cd9890bb3e278db05ce493d13c2ddd2

Summary:

• Mercurius Capital has obtained a verbal understanding with investors to extend three convertible loans and a US$460,000 facility from Asia Assets Development until completion of its proposed reverse takeover (RTO).

• The company warns that if it fails to sign a definitive RTO agreement by 31 December 2025, it must voluntarily seek delisting under conditions tied to SGX-ST’s approval for use of THB 25 million working capital.

• Proposed liquidation of Grand Bay Hotel has been put on hold as the group now explores an alternative exit via capital reduction, with legal discussions still ongoing.

• FY2023 and FY2024 audits remain incomplete due to outstanding audit fees, preventing the company from convening its last two annual general meetings.

• As at 30 November 2025, Mercurius reports estimated net liabilities of S$8.96 million excluding its joint venture, and notes no significant change in net assets versus 30 September 2025.

• The board is pursuing a blue carbon credits collaboration as part of its new business strategy but says there are no further material updates beyond the RTO and delisting timeline already disclosed.