H2G Green Limited Unveils Potential Share Price Catalyst with Warrants Issue
H2G Green Limited Unveils Potential Share Price Catalyst with Warrants Issue
H2G Green Limited has announced a significant move that could affect its share prices—a proposed renounceable non-underwritten rights issue involving up to 1,415,284,092 warrants. This development was confirmed following the receipt of a Listing and Quotation Notice (LQN) from the Singapore Exchange Securities Trading Limited (SGX-ST) on 11 October 2024.
Key Details of the Warrants Issue
According to the announcement, each warrant will be issued at S\$0.001, providing shareholders the right to subscribe for one new ordinary share at an exercise price of S\$0.004. The offer is on a one-for-one basis for existing shareholders as of a date yet to be determined. Shareholders should note that fractional entitlements will be disregarded.
Conditions and Shareholder Implications
The listing and quotation of these warrants on the Catalist board are subject to certain conditions. Compliance with SGX-ST’s listing requirements and shareholder approval at an Extraordinary General Meeting (EGM) to be convened are among these. Additionally, a sufficient spread in the warrants must be confirmed as per Rule 826 of the Catalist Rules.
Potential Price Sensitivity
Shareholders should be aware that the issuance of these warrants and the new shares could significantly affect share value. The Board has cautioned that there is no certainty that the warrants issue will be completed or that terms will remain unchanged. Thus, shareholders are advised to exercise caution in their dealings and await further announcements from the company.
Next Steps
A circular containing more details and the EGM notice will be distributed to shareholders soon. The company has committed to keeping shareholders informed through subsequent announcements.
Lim Shao-Lin, Executive Director and CEO of H2G Green Limited, emphasized the importance of shareholder vigilance in light of the potential changes.
Disclaimer: This article is intended for informational purposes only. Shareholders should consult their financial advisors for advice tailored to their specific circumstances.
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