Equity Listing - Ordinary Shares::ALLOTMENT AND ISSUE OF NEW SHARES PURSUANT TO THE EXERCISE OF WARRANTS eW151118

Issuer & Securities

Issuer/Manager
SINARMAS LAND LIMITED
Security Not Found
No
Security Name
SINARMAS LAND LIMITED
Security Short Name
SINARMAS
ISIN
SG1E97853881
Stock Code
A26

Announcement Details

Announcement Title
Equity Listing - Ordinary Shares
Date &Time of Broadcast
23-Nov-2015 18:07:42
Status
New
Announcement Sub Title
ALLOTMENT AND ISSUE OF NEW SHARES PURSUANT TO THE EXERCISE OF WARRANTS eW151118
Announcement Reference
SG151123OTHRU67C
Submitted By (Co./Ind. Name)
Kimberley Lye Chor Mei
Designation
Company Secretary
Description(Please provide a detailed description of the announcement in the box below)
ALLOTMENT AND ISSUE OF NEW SHARES PURSUANT TO THE EXERCISE OF WARRANTS eW151118 ("WARRANTS"); AND USE OF PROCEEDS

In this announcement, the term "Warrants" or "Warrants eW151118" refers to all warrants eW151118 issued by Sinarmas Land Limited (the "Company"), the terms of which are constituted in the deed poll executed by the Company on 11 November 2010.

Further to the announcement of 20 November 2015, the Board of Directors of the Company wishes to announce that 1,507,359,759 new ordinary shares in the capital of the Company (the "New Shares") were allotted and issued today pursuant to the exercise of 1,507,359,759 Warrants, each Warrant carrying the right to subscribe for one (1) New Share at an exercise price of S$0.10 for each New Share ("Exercise of Warrants").

Warrantholders who have elected to have the delivery of the New Shares to be effected by crediting such New Shares to their respective securities account(s) maintained with The Central Depository (Pte) Limited ("CDP"), will have the relevant number of New Shares credited to their respective securities account(s) with CDP today.

Share certificate(s) have been despatched today to Warrantholder(s) who have elected to receive physical share certificates.

The New Shares rank pari passu in all respect with the existing issued ordinary shares of the Company, and will be listed and quoted on the Singapore Exchange Securities Trading Limited with effect from 9.00 a.m. on 24 November 2015.

Use of Proceeds:

The gross proceeds from the Exercise of Warrants is approximately S$150,735,975.90 ("Warrants Proceeds").

Reference is made to the Company's announcement dated 11 August 2010 on, inter alia, the proposed use of the net proceeds from the Exercise of Warrants which could be allocated for increasing the Company's land banks when opportunities arise, and for investment and general working capital purposes.

Pending the deployment of the net Warrants Proceeds, the net Warrants Proceeds may be placed as deposits with banks and/or financial institutions, invested in short-term money market instruments and/or marketable securities or used for any other purposes on a short-term basis as the Directors may, in their absolute discretion, deem appropriate in the interests of the Company.

The Company will make periodic announcements on the utilisation of such proceeds, as the funds are materially disbursed and provide a status report on the use of such proceeds or any material deviations therefrom in the Company's annual report.

By Order of the Board
SINARMAS LAND LIMITED

Robin Ng Cheng Jiet
Director
23 November 2015

Listing Details

Form of Issue
Registered
Primary Listing
Yes
Country of Primary Listing
Singapore
Listing Date
24/11/2015 09:00:00
Issue Currency
Singapore Dollar
Trading Currency
Singapore Dollar
Asset Class
Ordinary Shares

Agent Details