Company: EUDAW
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001641172-25-006627
Chunk: 65

Company: EUDA Health Holdings Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 7
Chunk 65
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 “ Tan 2023 Note”) to replace the Tan 2022 Note. The Tan Third Loan would bear interest at 8% per annum,
and would be repaid upon the earlier of June 30, 2023 or within seven days of the Company receiving the proceeds from the sales of securities
in the Private Placement.

On
May 15, 2023, the Company issued to James Tan the Tan 2023 Note to replace the Tan 2022 Note. The Tan 2023 Note was an interest-free
convertible promissory note in the aggregate principal amount of $700,000. On May 15, 2023, James Tan elected to convert the entire unpaid
principal in the amount of $700,000 of the Tan 2023 Note into ordinary shares of the Company at $1.00 per share in accordance with the
terms of the Tan 2023 Note. On May 16, 2023, the Company issued to James Tan 700,000 ordinary shares in full satisfaction of the Tan
2023 Note. Pursuant to the terms of the Tan 2023 Note, the Company has agreed to register the 700,000 ordinary shares for resale. We
refer to these 700,000 restricted ordinary shares as the “ Converted Shares.”

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As
of the date of this report, the Tan 2023 Note has been converted in full into the Converted Shares and is no longer outstanding.

In
order to facilitate the Company’s capital raising efforts, the Board, at a meeting on May 16, 2023 (the “ May 2023 Board Meeting”)
approved and authorized execution of a Settlement Agreement with James Tan (the “ Tan Settlement Agreement”), pursuant to
which the Company agreed to issue to James Tan an aggregate of 478,200 restricted ordinary shares of the Company in full satisfaction
of all obligations of the Company under the Tan First Loan and the Tan Second Loan. On May 16, 2023, the Company issued to James Tan
an aggregate of 478,200 restricted ordinary shares pursuant to the Tan Settlement Agreement, in full settlement of all obligations of
the Company under the Tan First Loan and the Tan Second Loan.

As previously disclosed on a Form
8-K filed on May 26, 2023, the Company borrowed from Meng Dong (James) Tan, a significant shareholder of the Company, an aggregate amount
of $22,500, or a total of $24,004 with unpaid