Key Points:

• The Company has received a LQN from the SGX-ST for the listing and quotation of up to 86,635,783 Bonus Shares.
• The Company has also received a LQN for the listing and quotation of up to 16,666,657 Conversion Shares to be issued upon the conversion of the Convertible Bonds at the NCP of S\$0.30 per Conversion Share.
• The Bonus Shares and Conversion Shares will be listed on the Catalist of the SGX-ST.

Important Things for Shareholders to Know:

The receipt of the LQN is a significant step towards the implementation of the Proposed Bonus Issue and the Proposed Issue of Convertible Bonds. However, shareholders should note that the LQN is not to be taken as an indication of the merits of the Proposed Bonus Issue, the Bonus Shares, the Conversion Shares, the Convertible Bonds, the Company, its subsidiaries, and their securities.

The Company will announce the details of the Record Date for the purpose of determining Shareholders’ entitlements to the Bonus Shares, as well as any further material developments in relation to the Proposed Issue of Convertible Bonds in due course.

Potential Impact on Share Price:

The Proposed Bonus Issue and the Proposed Issue of Convertible Bonds may have a potential impact on the Company’s share price. The increase in the number of shares outstanding may lead to a dilution of existing shareholders’ interests. However, the convertible bonds may also provide the Company with additional capital to fund its growth initiatives.

What to Watch Out For:

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the Company’s securities. When in doubt, shareholders and potential investors are advised to seek independent advice from their bankers, stockbrokers, solicitors or other professional advisers.

The Company’s executive director and chief executive officer, Xu Ruibing, has confirmed that the Company was listed on Catalist of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) on 18 May 2023, and the initial public offering of the Company was sponsored by Novus Corporate Finance Pte. Ltd. (the “Sponsor”).

This announcement has been prepared by the Company and reviewed by the Sponsor, in compliance with Rule 226(2)(b) of the SGX-ST Listing Manual Section B: Rules of Catalist.

Disclaimer:

This article is for informational purposes only and should not be considered as investment advice. The information contained in this article may not be accurate or up-to-date. Investors should do their own research and consult with a financial advisor before making any investment decisions. The author and the publisher disclaim any liability for any loss or damage caused by reliance on the information in this article.

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