The board of directors of DeClout Limited announced that the Company has, on 11 April 2018, entered into a loan agreement with six private investors pursuant to which the Lenders have agreed to extend to the Company loans of an aggregate amount of SGD 10,000,000, on the terms and subject to the conditions of the Loan Agreement. The Lenders were introduced to the Company by Xandar Capital Pte. Ltd. A fee equivalent to 1% of the aggregate Loan amount will be paid to Xandar Capital by the Company upon drawdown of the Loan. An aggregate principal amount of SGD 10,000,000 shall be granted by the Lenders. The term of the Loan shall be for a period of two (2) years from the date of drawdown of the Loan. As at the date of this announcement, the Loan has not been drawn down. The Loan shall bear simple interest at a rate of 8.0% per annum (to be calculated on the basis of actual days elapsed on a year of 365 days) or at such rate as may be agreed between Parties in writing from time to time. The Company shall pay accrued interest on the Loan on the last day of each Interest Period in cash. For the purpose of this clause, "Interest Period" is defined as every six month period or any other date mutually agreed by the Parties, from the date of drawdown of the Loan.