Company: EUDAW
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001641172-25-006627
Chunk: 71

Company: EUDA Health Holdings Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 7
Chunk 71
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Agreement dated March 31, 2023 to extend the maturity date of the Loan to December 31, 2023. On April 16, 2024, the Company and Mr. Lim
entered into another Supplemental Agreement to further extend the maturity date of the Loan to June 30, 2024. On June 30, 2024, the Company and Mr. Lim entered into the third Supplemental
Agreement, moving the maturity date to December 31, 2024. On April 1, 2025, a loan extension agreement was signed by the Company and Mr.
Lim to further extend the maturity date of the Loan to December 31, 2025.

Acquisition of Fortress Cove Limited

On May 6, 2024, the Company entered into a Share Purchase
Agreement with certain persons named therein (the “ Share Purchase Agreement”) for the acquisition of all outstanding shares
of Fortress Cove Limited (“ Fortress Cove”), a British Virgin Islands company which is the sole legal and beneficial owner
of the entire share capital of CK Health Plus Sdn Bhd, a Malaysian company (“ CK Health”) in the direct sale business of holistic
wellness consumer products in Malaysia. Pursuant to the Share Purchase Agreement, EUDA has agreed to acquire the entire issued capital
of Fortress Cove for an aggregate consideration of 8,571,428 newly issued ordinary shares, valued at approximately $15.0 million based
upon the enterprise fair value of CK Health appraised by an independent third-party valuation firm. An additional one million ordinary
shares will be issued to the persons named in the Share Purchase Agreement if certain financial performance milestones based on CK Health’s
net income for the fiscal years 2024 and 2025 are met. The acquisition closed on May 8, 2024. Meng Dong (James) Tan, a significant shareholder
of EUDA is also a 40% shareholder of Fortress Cove Limited.

  Interests               

Not
applicable.

  47  

ITEM
8. FINANCIAL INFORMATION