We have been notified of a transition from Escrow Account to Trust Account. How will it affect me?

Effective 4th October 2024, our then-escrow agent, Vistra Corporate Trust (Singapore) Ltd stepped down from their role following their decision to surrender their license due to strategic business considerations. To ensure a smooth and seamless transition, GXS Capital assumed the management of the escrow account maintained with DBS Bank. This transition was carried out in full compliance with all applicable regulatory standards. As part of this change, the escrow account was designated as a Trust Account.

Operationally, there was no change to your engagement with GXS Capital. The same bank account continued to be used for withdrawal processing, and you have been able to withdraw funds without any interruptions. No action was required from you. However, please note that as of 4th October 2024, the account name has officially changed to “Validus Capital Pte. Ltd.”