Audience Analytics Limited, a Singapore-based company, has announced a proposed bonus issue involving the issuance of up to 56,926,500 new ordinary shares. This initiative is aimed at rewarding shareholders for their support while enhancing the trading liquidity of the company’s shares. Here’s a detailed breakdown of the announcement and its implications.

Key Highlights of the Bonus Issue

• The bonus shares will be issued on the basis of one (1) bonus share for every three (3) existing ordinary shares held by shareholders as of the record date, which will be announced later.
• The company’s current issued and paid-up share capital stands at 170,779,500 shares. Assuming no changes in this number before the record date, the bonus issue will result in the issuance of 56,926,500 new shares.
• The bonus shares will be allotted and issued as fully paid at nil consideration, meaning no additional cost to shareholders.
• The proposed shares will account for approximately 33.3% of the company’s existing issued shares and 25.0% of the total shares after the bonus issuance.
• The bonus shares will rank pari passu with existing shares, excluding entitlements such as dividends or other distributions declared before their issuance.

Shareholder Implications

This proposed bonus issue is significant for shareholders as it aims to:

• Recognize and reward loyalty: The issuance of bonus shares demonstrates the company’s commitment to its shareholders.
• Enhance trading liquidity: By increasing the number of issued shares, the company hopes to attract greater investor participation and broaden its shareholder base.
• Potential price sensitivity: While the theoretical ex-bonus price (TEBP) is calculated at S\$0.2288, the company has stated that the adjusted daily weighted average price will not fall below S\$0.20, which complies with the SGX Catalist Rules.

Regulatory Approvals and Compliance

The bonus issue is subject to approval from the Singapore Exchange Securities Trading Limited (SGX-ST) for the listing and quotation of the bonus shares on the Catalist Board. The company has confirmed it will make the necessary application and announcements in due course.

Per the Catalist Rules, the company has assured that the adjusted daily weighted average price of its shares for the one-month period preceding the application will not drop below S\$0.20, a key compliance requirement.

Additional Information

The company will make adjustments to existing share awards granted under its Shared Purpose and Prosperity Incentive Plan following the bonus issue. Importantly, none of the directors or substantial shareholders has any interest in the proposed bonus issue other than in their capacity as shareholders.

Cautionary Statement for Investors

Shareholders and potential investors should note that the proposed bonus issue is subject to necessary approvals, and there is no guarantee of its completion at this stage. Investors are advised to exercise caution when trading in the company’s shares and consult professional advisors if in doubt.