CSE Global Secures SGX Approval-in-Principle for Large-Scale Warrant Issuance

Key Highlights for Investors

• Approval-in-Principle Secured: CSE Global Limited has received an approval in-principle from the Singapore Exchange Securities Trading Limited (SGX-ST) for the listing and quotation of up to 62,968,580 new ordinary shares. These shares are to be issued upon the exercise of new warrants on the Mainboard of the SGX-ST.
• Large Capital Raising: The issuance of 62,968,580 warrants represents a significant potential capital raising event for the company, which could have material implications for existing shareholders, company valuation, and share price.
• Conditions Imposed by SGX-ST: The approval is subject to several compliance conditions, including undertakings to adhere strictly to specific SGX listing rules. These include commitments that the company will not issue warrants or new shares to prohibited persons and will provide clear and detailed disclosure regarding the use of proceeds.
• Potential Dilution: Shareholders should note that if all warrants are exercised, the company’s issued share capital will increase, which may lead to dilution of existing shareholdings.
• Disclosure Requirements: The company is required to provide a detailed breakdown of how proceeds are used, especially if allocated to working capital, both in announcements and in its annual report.
• No Endorsement by SGX: SGX-ST’s approval in-principle is not to be taken as an endorsement of the merits of the new shares, the warrants, or the company itself.

Details of the Proposed Warrants Issuance

On 21 November 2025, CSE Global Limited received in-principle approval from the SGX-ST for the listing and quotation of up to 62,968,580 new ordinary shares, which may be issued upon the exercise of new warrants. This follows the company’s earlier announcement on 11 November 2025 regarding the proposed warrant issuance.

The warrants, when exercised, will result in the issuance of new shares, potentially raising significant funds for CSE Global. The specifics regarding exercise price, tenure, and other terms of the warrants were not detailed in this announcement, but such major issuances typically result in meaningful capital inflow and can be used to fund growth, acquisitions, or working capital.

Important Conditions Attached to the Approval

The SGX-ST’s approval is subject to strict compliance with several rules and requirements:

• Rule 803: The company must provide a written undertaking to comply with this rule, which generally covers criteria for listing on the Mainboard.
• Rule 812(1): The company is prohibited from issuing warrants or new shares to certain restricted or related parties, ensuring fairness and preventing conflicts of interest.
• Rules 829, 830, and 831: The company must confirm adherence to these rules, which pertain to the conduct of equity offerings and shareholder protections.
• Rules 704(30) and 1207(20): The company must disclose the use of proceeds from the warrant issuance with specificity, particularly when funds are used for working capital. This includes detailed updates in company announcements and annual reports.

Implications for Shareholders and Share Price

The proposed warrant issuance is a potentially price-sensitive event. If all warrants are exercised, the substantial increase in issued share capital could lead to dilution for current shareholders. However, the inflow of capital could also enable the company to pursue growth initiatives, acquisitions, or strengthen its balance sheet, all of which may have a positive impact on long-term value.

Investors should monitor future announcements closely for further details regarding the terms of the warrant issue, the intended use of proceeds, and any subsequent placements or exercises of warrants, as these could all affect the company’s financial position and share price.

It is important to note that the SGX-ST’s approval in-principle does not represent an endorsement of the company, its securities, or the merits of the warrant issuance. Investors should conduct their own due diligence and consider potential dilution against the company’s prospects and use of funds.

Disclaimer

This article is for informational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any securities. Investors should seek professional advice and perform their own research before making any investment decisions. The information above is based on the company announcement dated 24 November 2025 and may be subject to further clarifications or updates from CSE Global Limited.

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