Clearbridge Health 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 announcement could significantly impact the company’s share value, and shareholders need to be aware of several critical details and dates.

Key Details of the Rights Issue

The rights issue is designed to raise additional capital for the company. Shareholders registered by the Record Date of 15 November 2024, at 5:00 p.m. Singapore Time, will be entitled to participate. These shareholders, referred to as “Entitled Shareholders,” include Entitled Depositors and Entitled Scripholders, who will receive provisional allotments of Rights Shares.

Trading Dates and Eligibility

Shares will trade on a ‘cum-rights’ basis until 5:00 p.m. on 13 November 2024 and will shift to an ‘ex-rights’ basis from 9:00 a.m. on 14 November 2024. Shareholders purchasing shares from 14 November 2024 will not receive provisional allotments.

Entitled Shareholders and their Options

Entitled Shareholders will receive instructions on accessing the Offer Information Statement. They have the liberty to accept their rights in full or part, decline, renounce, or trade during the nil-paid rights trading period. They can also apply for Excess Rights Shares beyond their provisional allotments.

Special Provisions for SRS Account Holders

Shareholders who purchased shares using Supplementary Retirement Scheme (SRS) accounts must use their SRS funds to accept their Rights Shares or apply for Excess Rights Shares, following specific procedures detailed in the Offer Information Statement.

Implications for Foreign Shareholders

Foreign Shareholders, or those with registered addresses outside Singapore, will not be offered Rights Shares unless they provide a Singapore address by the specified deadline. Provisional allotments for these shareholders may be sold on the SGX-ST if deemed financially viable by the company.

Cautionary Note

Shareholders and potential investors are urged to exercise caution when dealing in Clearbridge Health shares. While the rights issue could influence share prices, there is no guarantee of its completion or the final terms. Shareholders are advised to consult financial advisors to understand their options fully.

This announcement has been reviewed by the company’s sponsor, ZICO Capital Pte. Ltd., but not by the Singapore Exchange Securities Trading Limited (SGX-ST), which assumes no responsibility for its content.

Disclaimer

This article is for informational purposes only and does not constitute financial advice. Readers should perform their own research and consult with a financial advisor before making investment decisions.

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