Ascent Bridge Extends Long-Stop Date for Share Placement: Investor Caution Advised

Ascent Bridge Limited has announced a further extension of the Long-Stop Date for its proposed placement of 17,414,446 new ordinary shares. The shares are to be issued at S\$0.14 each, a move that has been in the works as per announcements made on 26 September 2024 and 25 October 2024.

This latest development, revealed on 15 November 2024, involves the Company entering into separate side letters with the three Placees, collectively known as the “Second Side Letters.” These agreements have resulted in the Long-Stop Date being pushed to 16 December 2024. Despite this extension, the terms and conditions of the Placement Agreements remain unchanged and in full effect.

Shareholders and potential investors should pay close attention to this update, as it could have possible implications for the Company’s stock value. The Company has committed to keeping its shareholders informed about any material developments related to these matters.

Importantly, the Board of Directors advises shareholders to refrain from taking any actions regarding their securities that could be detrimental to their interests. Exercising caution when dealing with the Company’s securities is strongly recommended. In case of any uncertainties, shareholders and potential investors are encouraged to consult with their stockbrokers, bank managers, solicitors, accountants, or professional advisers.

This announcement is issued by the Joint Executive Chairman and Joint Executive Officer, Qiu Peiyuan and Sun Quan, dated 15 November 2024.

Disclaimer: The information provided in this article is intended solely for informational purposes and does not constitute financial advice. Readers should conduct their own research or consult with a financial advisor before making any investment decisions.