General Announcement::OMNIBUS ANNOUNCEMENT IN RELATION TO A FUND RAISING EXERCISE

Issuer & Securities

Issuer/ Manager
ADDVALUE TECHNOLOGIES LTD
Securities
ADDVALUE TECHNOLOGIES LTD - SG1I67883666 - A31
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
05-Dec-2021 16:15:22
Status
New
Announcement Sub Title
OMNIBUS ANNOUNCEMENT IN RELATION TO A FUND RAISING EXERCISE
Announcement Reference
SG211205OTHR59HG
Submitted By (Co./ Ind. Name)
DR COLIN CHAN KUM LOK
Designation
CHAIRMAN AND CEO
Description (Please provide a detailed description of the event in the box below)
OMNIBUS ANNOUNCEMENT
in relation to a fund raising exercise undertaken by Addvalue Technologies Ltd involving:

-Proposed Subscription by Economic Development Innovations Singapore Pte. Ltd. of 78,700,000 new ordinary shares of the Company tagged with option to subscribe for a further 315,000,000 new Shares
-Proposed Subscription by various New Investors of a total of 185,240,000 new Shares tagged with 185,240,000 warrants convertible into 185,240,000 new Shares upon exercise
-Proposed Subscription by Directors, Employees and Business Associates of a total of 169,070,000 new Shares
-Proposed Grant of a Right to Mr Cheng Kwee Kiang to subscribe for up to 110,000,000 new Shares

each Share to be allotted and issued at an issue price of S$0.0127

Please refer to the attached for details.

Attachments

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05/12/2021 23:18:02