THE PROPOSED TRANSFER FROM THE CATALIST TO THE MAINBOARD OF THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED (&ldquo SGX-ST&rdquo ) (THE &ldquo PROPOSED TRANSFER&rdquo )

https://links.sgx.com/1.0.0/corporate-announcements/X9BS4ABKJZXRC3J3/881049_ALL_Receipt%20of%20AIP.pdf

ANNOUNCEMENT OF ACQUISITION OF SHARES IN ION WORLD SDN. BHD., KEDAI EMAS ION SDN. BHD. AND FOCUS RESOURCES SDN. BHD. BY A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY AS A DISCLOSEABLE TRANSACTION

Move can enhance the company&rsquo s ability to access both equity and debt capital markets

 

The proposed move by the group could enhance the company&rsquo s ability to access both equity and debt capital markets as certain institutional and international investors may have investment mandates focused on mainboard-listed companies. 

 

However, as at Wednesday, only 14.9 per cent of its total share capital was held in the hands of the public. 

 

This falls slightly short of the mainboard listing requirements, where companies must meet the public float requirement. A minimum of 15 per cent of their total issued and paid-up share capital must be held in the hands of at least 500 shareholders who are members of the public, reported The Business Times previously. 

 

Aspial Lifestyle owns several jewellers such as Maxi-Cash, Lee Hwa Jewellery and Goldheart Jewelry. 

The group is eyeing access to equity and debt capital markets in a move aimed at supporting its future funding requirements

[SINGAPORE] The board of Catalist-listed Aspial Lifestyle has proposed a transfer of the listing of the company to the mainboard of the Singapore Exchange (SGX), as it seeks access to a broader and more diversified investor base.

 

In a filing on Wednesday (Mar 4), the group said the transfer could enhance the company&rsquo s ability to access both equity and debt capital markets as certain institutional and international investors may have investment mandates focused on mainboard-listed companies.

 

It added that this would support the group&rsquo s future funding requirements, and provide greater financial flexibility to pursue expansion opportunities, including the diversification of its revenue streams.

 

The group said it has &ldquo demonstrated its ability to sustain its profitability&rdquo , with a steady improvement in earnings through the years.

 

Aspial Lifestyle&rsquo s net profit reached S$80.7 million in the FY2025 ended December, from S$14.4 million in FY2021.

 

The group noted that it has undergone substantial growth &ndash including an expanded scale of operations and strengthened financial position &ndash since its listing on the Catalist board in June 2012.

 

To meet mainboard listing requirements, Aspial Lifestyle must meet the public float requirement, where at least 15 per cent of its total issued and paid-up share capital is held in the hands of at least 500 shareholders who are members of the public.

 

As of Mar 4, only 14.94 per cent of its total share capital was held in the hands of the public &ndash falling just short of the requirement.

 

To facilitate compliance with this public float requirement, controlling shareholder Aspial Corporation has agreed to sell up to 10 million shares in Aspial Lifestyle at S$0.34 per sale share. 

 

The sale price represents a 5 per cent discount to the volume-weighted average price of S$0.3613 for the full market day on Mar 4. 

 

The group said that it expects the public float requirement will be satisfied following the completion of the proposed sale of vendor shares.