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Right Issue 3 for 5 @ $0.05. King Wan part 2
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SmallSmall
Supreme |
21-Sep-2021 14:02
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This one is a no brainer. Just buy cum sell ex. Get the rights ans subcribe for lots of excess. And if the rights are cheap, buy from the market. |
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SmallSmall
Supreme |
17-Sep-2021 11:24
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IRREVOCABLE UNDERTAKINGS 2.1. To demonstrate their support for the Proposed Rights Issue and to show their commitment to and confidence in the prospects of the Group, each of Yi Investment Pte. Ltd. (&ldquo YIPL&rdquo ), Phua Lam Soon (&ldquo PLS&rdquo ), Ong Siew Eng (&ldquo OSE&rdquo ) and Twinkle Investment Pte. Ltd. (&ldquo Twinkle&rdquo ) (collectively, the &ldquo Undertaking Shareholders&rdquo ) has undertaken that they will, pursuant to deeds of undertaking to be irrevocably and unconditionally undertaken to the Company (the &ldquo Undertakings&rdquo ), inter alia, subscribe for and/or procure the subscription of their respective entire pro-rata entitlements of Rights Shares under the Proposed Rights Issue. No commission or fee will be payable by the Company to the Undertaking Shareholders in consideration of their Undertakings. 2.2. Accordingly, the Undertaking Shareholders collectively will subscribe for an aggregate of 81,236,880 Rights Shares, which constitutes approximately 72.94% of the total number of Rights Shares. 2.3. As at the date of this announcement, the number of Shares held and the percentage proportion held in the Company&rsquo s issued and paid-up share capital by each of the Undertaking Shareholders is as follows: Undertaking Shareholders Direct Interest Deemed Interest Number of Shares %(1) Number of Shares %(1) Yi Investment Pte. Ltd.(2) 90,581,300 48.80 - - Phua Lam Soon(3) 14,701,600 7.92 105,454,900 56.81 Ong Siew Eng(4) 14,873,600 8.01 105,282,900 56.72 Twinkle Investment Pte. Ltd.(5) 15,238,300 8.21 - - Notes:- (1) Percentage figures are calculated based on 185,625,000 Shares, being the total number of issued Shares as at the date of this announcement. (2) Yi Investment Pte. Ltd. is an investment holding company incorporated in the Republic of Singapore and jointly owned by Phua Lam Soon and Ong Siew Eng. Accordingly, Phua Lam Soon and Ong Siew Eng are deemed to be interested in 90,581,300 Shares held by Yi Investment Pte. Ltd. (3) Phua Lam Soon is the spouse of Ong Siew Eng. Accordingly, Phua Lam Soon is deemed to be interested in 14,873,600 Shares held by Ong Siew Eng. (4) Ong Siew Eng is the spouse of Phua Lam Soon. Accordingly, Ong Siew Eng is deemed to be interested in 14,701,600 Shares held by Phua Lam Soon. (5) Twinkle Investment Pte. Ltd. is an investment holding company incorporated in the Republic of Singapore. The shareholders of Twinkle Investment Pte. Ltd. are Neo Kah Kiat and Liew Oi Peng. Neo Kah Kiat is the spouse of Liew Oi Peng. Accordingly, Neo Kah Kiat and Liew Oi Peng are deemed to be interested in 15,238,300 Shares held by Twinkle Investment Pte. Ltd. 2.4. PLS and OSE had previously jointly extended interest-free loans to the Company and made payments on behalf of the Company, which, as at the date of this announcement, S$11,341,000 remains outstanding and due to PLS and OSE (&ldquo Amount Owing&rdquo ). The aggregate payment for the subscription of YIPL&rsquo s, PLS&rsquo s and OSE&rsquo s pro-rata entitlement of the Rights Shares under the Proposed Rights Issue is to be satisfied entirely by PLS and OSE applying S$3,604,695 of the outstanding amount due to them towards setting off the payment of the 4 subscription price payable by YIPL, PLS and OSE, which after such set-off, leaves a balance of S$7,736,305 due to PLS and OSE jointly. 2.5. The aggregate payment for the subscription of Twinkle&rsquo s pro-rata entitlement of the Rights Shares under the Proposed Rights Issue is S$457,149, to be satisfied by Twinkle entirely in cash. Twinkle has demonstrated to the Company that it has sufficient financial resources to fulfil its obligations under the Undertakings by depositing its subscription monies to the Company&rsquo s bank accoun |
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SmallSmall
Supreme |
17-Sep-2021 09:13
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Interesting. Last cum day for right isue 23 September 2021 |
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