Shanaya Limited Announces Extension of Completion Date for Key Share Subscription in KJ Engineering Pte. Ltd.

Key Highlights

• Proposed Subscription: Shanaya Environmental Services Pte Ltd (“SES”), a wholly-owned subsidiary of Shanaya Limited, has entered into a binding term sheet with KJ Engineering Pte. Ltd. (“KJ”) to subscribe for 120,000 ordinary shares, representing 60% of the enlarged share capital of KJ, for a total cash consideration of S\$120,000.
• Completion Date Extended: The completion date for this Proposed Subscription has been extended from 28 February 2026 to 30 April 2026, following mutual agreement and a signed letter of addendum between SES and KJ.
• No Change to Other Terms: Apart from the extension of the completion date, all other terms and details in the original binding term sheet remain unchanged.

Details Investors Should Know

• Conditions Precedent: The extension was requested to allow both parties additional time to satisfy all conditions precedent under the term sheet. This signals that certain pre-requisites for the deal’s completion are still outstanding and could impact the timeline and certainty of the transaction.
• Potential Impact on Share Price: The Proposed Subscription, if completed, would result in SES acquiring a controlling stake (60%) in KJ. This could be significant for Shanaya Limited’s future revenue streams and business diversification, depending on KJ’s performance and synergy with the group.
• Completion Uncertainty: The announcement explicitly cautions that there is no certainty, as of the announcement date, that the Proposed Subscription will proceed to completion. This uncertainty is price-sensitive and may affect the valuation and trading of Shanaya Limited’s shares.
• Shareholder Guidance: Shareholders and potential investors are strongly advised to exercise caution when trading Shanaya Limited shares. The company recommends reading the current and previous announcements thoroughly and consulting professional advisors if in doubt.
• Further Updates: Shanaya Limited will provide additional updates as and when material developments occur regarding the Proposed Subscription.

Corporate Governance and Regulatory Review

• Board and Executive Involvement: The announcement is issued by Mohamed Gani Mohamed Ansari, the Executive Director and Chief Executive Officer of Shanaya Limited, indicating high-level oversight and involvement in the transaction.
• Sponsor Review: The company’s sponsor, PrimePartners Corporate Finance Pte. Ltd., has reviewed the announcement. However, the Singapore Exchange Securities Trading Limited (SGX-ST) has not examined or approved the announcement and assumes no responsibility for its contents.

Conclusion

The extension of the completion date for the Proposed Subscription is a critical event for Shanaya Limited, with potential implications for its ownership structure and future growth prospects. The uncertainty surrounding the completion and the price-sensitive nature of the update make this announcement highly relevant for investors and shareholders. Timely updates will be provided by the company as the situation develops.

Disclaimer

This article is prepared for informational purposes only and does not constitute financial advice or a recommendation to trade in Shanaya Limited shares. Investors should refer to official company announcements, consult their financial advisors, and consider their own investment objectives and risk tolerance before making any trading decisions. The Singapore Exchange Securities Trading Limited (SGX-ST) has not reviewed or approved the contents of this article and assumes no responsibility for its accuracy.

View Shanaya Historical chart here