OxPay Financial Limited Completes S\$997,089 Share Subscription and Issues 30.84 Million New Shares

Key Highlights

• Share Subscription Completed: OxPay Financial Limited (“OxPay” or the “Company”) has successfully completed the subscription and allotment of 30,841,000 new ordinary shares to ten investors.
• Issue Price: The new shares were issued at S\$0.03233 per share, raising a total of approximately S\$997,089 in fresh capital for the Company.
• Increase in Share Capital: The Company’s total issued shares have increased from 311,253,152 to 342,094,152.
• Listing of New Shares: The Subscription Shares are set to be listed and quoted on the Catalist board of the Singapore Exchange Securities Trading Limited (SGX-ST) from 9.00 a.m. on 28 April 2026.

Details of the Share Subscription

The Board of Directors of OxPay Financial Limited announced the completion of a significant equity fundraising exercise involving the issuance of 30,841,000 new ordinary shares. These shares were allotted to a group of ten investors (the “Subscribers”) at an issue price of S\$0.03233 per share, resulting in a total gross proceeds of approximately S\$997,089 for the Company.

All new shares issued under this subscription will rank pari passu in all respects with existing ordinary shares of the Company, except that they will not be entitled to dividends, rights, allotments, or other distributions if the record date for such falls on or before the date of completion of this subscription.

Impact on Shareholders

• Share Dilution: The total issued share capital of the Company has increased from 311,253,152 to 342,094,152 shares. Existing shareholders should note that this represents a dilution of their percentage holdings in the Company.
• No Treasury Shares: The Company confirmed that it does not hold any treasury shares or subsidiary holdings, meaning the dilution impact is fully reflected in the enlarged share capital.
• Potential Price Sensitivity: The entry of new investors and the near 10% increase in issued share capital could influence the share price. The funds raised may be used for growth initiatives, working capital, or other corporate purposes, which could impact future performance and valuation.
• Listing and Quotation Notice: Shareholders should be aware that the listing and quotation notice for the Subscription Shares is not an indication of the merits of the share subscription, the Company, its subsidiaries, or its securities.

Other Important Information

• The Company’s sponsor, ZICO Capital Pte. Ltd., has reviewed the announcement, but the Singapore Exchange Securities Trading Limited (SGX-ST) has neither examined nor approved the contents and assumes no responsibility for them.
• The contact person for the Sponsor is Ms. Goh Mei Xian at ZICO Capital Pte. Ltd., 77 Robinson Road, #06-03 Robinson 77, Singapore 068896, Tel: (65) 6636 4201.
• The announcement was authorised by Executive Director and CEO, Mr. Chin Mun Chung, on 24 April 2026.

Conclusion

This share subscription marks a significant milestone for OxPay Financial Limited, bringing in nearly S\$1 million in capital and broadening the shareholder base. The dilution in shareholding and the potential uses of the new capital are both factors that could materially affect the Company’s share price in the near term. Investors are advised to monitor further announcements regarding the deployment of funds or strategic developments resulting from this capital raising exercise.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence or consult their financial advisers before making any investment decisions. The Singapore Exchange Securities Trading Limited (SGX-ST) assumes no responsibility for the contents of this summary and announcement.

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