SALT Investments Limited Receives SGX Approval for Major Share Placement

Key Points

• Salt Investments Limited has received approval in-principle from the Singapore Exchange Securities Trading Limited (SGX-ST) to list and quote up to 1,748,233,722 new ordinary shares via a proposed placement.
• The placement price is set at S\$0.00275 per share, representing a significant potential injection of capital into the company.
• SGX-ST approval is subject to several conditions, including detailed disclosures on the use of placement proceeds and compliance with multiple SGX listing rules.

Detailed Overview

Salt Investments Limited is moving forward with a substantial capital raise, planning to issue up to 1,748,233,722 new ordinary shares at S\$0.00275 per share. The company announced that it has received approval in-principle from SGX-ST, dated 6 May 2026, to proceed with this placement, provided it meets several regulatory requirements.

Conditions Attached to SGX-ST Approval

• Disclosure Requirements: Salt Investments must submit a written undertaking to comply with SGX Listing Manual Rules 704(30) and 1207(20), particularly regarding the use of proceeds. If proceeds are allocated for working capital, a detailed breakdown must be provided both in company announcements and the annual report.
• Compliance with Rule 803: Both Salt Investments and its Placement Agent must provide written undertakings to comply with Rule 803, ensuring proper conduct and governance in the placement process.
• Restrictions on Placement: The company and its Placement Agent must confirm that no Placement Shares will be issued to persons prohibited under Rule 812(1), which generally restricts issuance to certain related parties.
• Timeframe: The Placement Shares must be placed out within seven (7) market days from the approval date.

Shareholder Considerations

• The placement represents a potentially significant dilution for existing shareholders, given the large number of new shares to be issued.
• The total capital raised could materially impact the company’s valuation, liquidity position, and strategic direction.
• The exact use of proceeds remains to be disclosed, especially if earmarked for working capital, which shareholders should monitor closely for transparency and impact.
• Completion of the placement is not guaranteed; it remains subject to fulfillment of conditions precedent in the Placement Agreement.
• The SGX-ST approval should not be taken as an endorsement of the company, its subsidiaries, or securities.

Potential Price Sensitivity

• The announcement of such a large placement at a low price may affect share prices due to dilution concerns and investor sentiment.
• The company’s disclosure and transparency on the use of proceeds, and the speed of placement completion, are factors to watch for potential share price movement.

Next Steps and Caution

Salt Investments Limited will continue to update shareholders on material developments and progress relating to the placement. Investors are advised to exercise caution, as the placement’s completion is not certain and depends on the fulfillment of all conditions precedent.

Regulatory Note

The Placement Shares are classified as prescribed capital markets products and Excluded Investment Products under Singapore’s Securities and Futures Act and MAS Notices, indicating regulatory clarity and investor protection.

Disclaimer

This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell securities. Investors should consult their professional advisers and review all company announcements before making investment decisions. The completion of the placement and its impact on share price remains subject to regulatory and contractual conditions.