Clearbridge Health’s Major Share Expansion: What Investors Need to Know

Clearbridge Health Limited has announced a significant development in its capital structure through a renounceable non-underwritten rights issue. The company has allotted and issued a massive 1,239,482,704 new ordinary shares, as of December 10, 2024, increasing the total number of issued shares from 619,741,352 to 1,859,224,056. This represents a substantial growth in the company’s share capital, which is crucial information for stakeholders.

The new shares are expected to be credited to shareholders’ securities accounts by December 12, 2024, and they will be listed and commence trading on the Catalist board of the SGX-ST from 9:00 a.m. the same day. Notably, these rights shares will rank pari passu with existing shares, except for dividends or distributions with a record date prior to their issuance.

Shareholders should be aware of the trading implications, especially regarding odd lots. On the SGX-ST’s Catalist board, each board lot comprises 100 shares. Shareholders holding odd lots, which do not form complete board lots, can trade these on the Unit Share Market. However, the market for odd lot trading may be illiquid, and there is no assurance of acquiring or disposing of such shares easily.

This expansion in share capital could have significant implications for shareholders and potential investors, potentially impacting share prices. As the company enhances its capital base, market participants should closely monitor trading volumes and pricing trends post-issuance.

By Order of the Board, Executive Director and CEO Yee Pinh Jeremy confirmed the details on December 11, 2024. The announcement has been reviewed by the company’s sponsor, ZICO Capital Pte. Ltd., but not by the Singapore Exchange Securities Trading Limited, which assumes no responsibility for the announcement’s contents.