General Announcement::NOTIFICATION OF INCLUSION ON THE WATCH-LIST DUE TO THE MTP ENTRY CRITERIA W.E.F. 5 JUNE 2017

Issuer & Securities

Issuer/ Manager
ZIWO HOLDINGS LTD.
Securities
ZIWO HOLDINGS LTD. - SG1Y74948866 - I9T
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
04-Jun-2017 15:40:09
Status
New
Announcement Sub Title
NOTIFICATION OF INCLUSION ON THE WATCH-LIST DUE TO THE MTP ENTRY CRITERIA W.E.F. 5 JUNE 2017
Announcement Reference
SG170604OTHR1AU4
Submitted By (Co./ Ind. Name)
Ting Chun Yuen
Designation
Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
1. The Exchange conducts half yearly reviews to identify issuers to be included on the Watch-list. Pursuant to the Exchange's recent review, the Exchange notes that Ziwo Holdings Ltd. (the "Company") has recorded:

(a) a volume weighted average price of less than S$0.20 over the last 6 months; and

(b) an average daily market capitalisation of less than S$40 million over the last 6 months.

2. The Company has been reassessed under the revised MTP rules announced on 2 December 2016. Pursuant to Listing Rule 1311(2), the Company will continue to be placed on the Watch-list with effect from 5 June 2017.

3. The Exchange has advised that the Company must take active steps to meet the requirements of Listing Rule 1314(2) within 36 months from 5 June 2017, failing which the Exchange would delist the Company or suspend trading in the Company's shares with a view to delisting the Company. Listing Rule 1314(2) states that the issuer will be assessed by the Exchange for removal from the Watch-list if it records volume-weighted average price of at least S$0.20 and an average daily market capitalisation of S$40 million or more over the last 6 months.