SALT Investments Approves Massive Share Allotment for Strategic Acquisition and Placement: Key Details Investors Must Know

Summary of Extraordinary General Meeting (EGM) Decisions

SALT Investments Limited held an Extraordinary General Meeting (EGM) on 29 September 2025 at its Singapore headquarters, immediately following its Annual General Meeting. The meeting was chaired by Mr. Jasper Goh Yang Jun, with a quorum present, and was attended by shareholders and proxies as per the company’s attendance records.

Key Resolutions Passed

• Approval for the Issue and Allotment of 857,142,857 New Ordinary Shares (“Consideration Shares”) for the settlement of the remaining purchase consideration for the acquisition of a 60% equity interest in TT Oil (Singapore) Pte. Ltd.
• Approval for the Issue and Allotment of up to 2,300,000,000 New Ordinary Shares (“Placement Shares”) to named investors for diversification purposes.

Resolution 1: Settlement of TT Oil Acquisition

The first resolution centered on the issuance of 857,142,857 new shares as payment for the remaining S\$3,000,000 (being 50% of the total agreed consideration) for the acquisition of a controlling 60% stake in TT Oil (Singapore) Pte. Ltd. This move underscores SALT Investments’ strategic expansion into the oil trading sector, potentially diversifying its revenue streams and strengthening its market position.

The CEO, Mr. Dennis Goh, clarified the exact value of the consideration shares to shareholders, confirming the amount and purpose of the issuance. There were no further questions from shareholders, signaling general approval and understanding of the strategic rationale.

Resolution 2: Placement of up to 2.3 Billion Shares to Investors

The second resolution involved the proposed placement of up to 2,300,000,000 new shares to selected investors. Importantly, the CEO assured shareholders that none of these investors are existing substantial shareholders, and that the placement would not result in any new substantial shareholder. The investors were specifically chosen to ensure a more diversified shareholding structure.

This substantial share placement could have a significant impact on SALT Investments’ capital structure, liquidity, and potentially its share price. The influx of new shares may dilute existing holdings, but the diversification of the shareholder base and the capital raised could be leveraged for further expansion or strategic initiatives.

Poll Voting and Results

Both resolutions were put to a poll, overseen by CACS Corporate Advisory Pte. Ltd. as the appointed scrutineer. The results were overwhelmingly in favor, with 9,461,713,952 shares (100% of votes cast) supporting each resolution, and only 220,000 shares (0%) against. This strong endorsement by shareholders signals confidence in management’s strategic direction and the anticipated benefits of these corporate actions.

Implications and Price-Sensitive Information for Investors

• Major Share Issuance: The combined issue of over 3.15 billion new shares (857 million for acquisition, 2.3 billion for placement) represents a significant expansion in the company’s share base, which could affect share price due to dilution.
• Strategic Acquisition: The acquisition of a majority stake in TT Oil (Singapore) Pte. Ltd. is a major move into the oil trading sector, likely to have material impact on future earnings and business profile.
• Shareholder Diversification: The selection of placement investors is designed to avoid concentration, potentially improving liquidity and market perception.

Conclusion

With these resolutions passed, SALT Investments is set for a transformative phase: a major acquisition and a substantial capital raise through share placements. While this presents opportunities for growth and diversification, investors should pay close attention to the effects of share dilution and the execution of the TT Oil integration. The EGM outcomes are clearly price-sensitive and could result in significant movements in SALT Investments’ share price as the market digests these developments.

Disclaimer: This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Investors are advised to conduct their own due diligence and consult professional advisers before making investment decisions.

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