Clearbridge Health to Launch Major Rights Issue: What Shareholders Need to Know

Clearbridge Health Limited has announced a proposed renounceable non-underwritten rights issue of up to 1,279,125,560 new ordinary shares. This initiative is aimed at raising capital for the company, with the process and timeline outlined in recent announcements.

Key Points of the Rights Issue

• The board of directors has set the record date for determining provisional allotments of rights shares as 15 November 2024, closing at 5:00 p.m. Singapore Time [[1]].
• Shares will trade on a “cum-rights” basis until 13 November 2024 and transition to an “ex-rights” basis starting 14 November 2024 [[1]].
• Entitled Shareholders will receive instructions on accessing the Offer Information Statement electronically, with options to accept, decline, or trade their rights during the “nil-paid” rights trading period [[1], [2]].

Eligibility and Details

• “Entitled Depositors” are those with shares credited in their securities accounts with CDP, meeting address conditions [[2]].
• “Entitled Scripholders” must have their share certificates registered by the record date, with necessary address criteria met [[2]].
• Shareholders using Supplementary Retirement Scheme (SRS) accounts can use these funds to pay for rights shares subject to applicable rules [[2]].
• Foreign Shareholders will not be eligible to participate due to legislative constraints outside Singapore [[2]].

Implications for Shareholders

Shareholders are advised to exercise caution as the completion of the Proposed Rights Issue is not guaranteed. The company will provide further announcements as developments occur [[3]].

In a potential market-moving decision, the company may sell the provisional allotments of Foreign Shareholders “nil-paid” if a premium is achievable, affecting net proceeds [[3]].

Conclusion

With the forthcoming rights issue, shareholders need to stay informed through announcements and prepare to make decisions regarding their participation in this capital-raising exercise.

Disclaimer: This article is for informational purposes only. Shareholders and potential investors should consult with financial advisors before making investment decisions.