Placements::RECEIPT OF APPROVAL IN-PRINCIPLE TO PROPOSED ISSUE OF CLN OF S$728,000 WITH FREE DETACHABLE WARRANTS

Issuer & Securities

Announcement Title: Placements
Date &Time of Broadcast: 16-Nov-2023 08:06:07
Status: New
Announcement Sub Title: RECEIPT OF APPROVAL IN-PRINCIPLE TO PROPOSED ISSUE OF CLN OF S$728,000 WITH FREE DETACHABLE WARRANTS
Announcement Reference: SG231116OTHR32O2
Submitted By (Co./ Ind. Name): TAN KHAI PANG
Designation: CHIEF EXECUTIVE OFFICER
Description (Please provide a detailed description of the event in the box below): RECEIPT OF APPROVAL IN-PRINCIPLE FROM THE SGX-ST IN RELATION TO THE PROPOSED ISSUE OF CONVERTIBLE LOAN NOTES IN THE AGGREGATE PRINCIPAL AMOUNT OF S$728,000 WITH AN AGGREGATE OF 56,000,000 FREE DETACHABLE WARRANTS CONVERTIBLE INTO NEW ORDINARY SHARES IN THE CAPITAL OF ADDVALUE TECHNOLOGIES LTD

Please refer to the attached for details.

Note that the Company also intends to issue Convertible Loan Notes in the aggregate principal amount of S$513,500 (and an aggregate of 39,500,000 Conversion Shares, upon the conversion of the Convertible Loan Notes) and 39,500,000 Warrants (and 39,500,000 Warrant Shares, upon the exercise of the Warrants) to Mr. Paul C Burke, Mr. Richard John Denny, Mr. Tan Khai Pang, Ms. Goh Liang Choo, Mr. Wong Ming Ghee, Bernard and Mr. Chua Chwee Koh who are Directors of the Company, and that the Company will be seeking the in-principle approval from the SGX-ST in respect of the listing and quotation of up to 79,000,000 new Shares to be issued to the aforementioned Directors.

Total size =93K