According to Bromat in its May 23 SGX announcement, this sum has been accounted for in its financial results for the six months ended March 31.
If the sum is not paid up on time, Sandbox, besides taking legal action, will also claim interest and legal costs incurred, says Bromat.
"The company is in the process of negotiation with Sandbox and will make further announcements to update shareholders in the event the payment is made or on any material developments, as and when necessary," says Bromat.
Bromat shares last traded at 4.4 cents, down 37.14% year to date.
