GSS Energy Limited Receives SGX Approval for Major Rights Issue
GSS Energy Limited Receives SGX Approval for Major Rights Issue
GSS Energy Limited has announced a significant development that could influence its share price and attract investor attention. On 22 November 2024, the company received a listing and quotation notice (LQN) from the Singapore Exchange Securities Trading Limited (SGX-ST). This notice pertains to the upcoming rights issue for up to 607,222,761 new ordinary shares, priced at S\$0.013 each.
The rights issue is structured on a basis of nine rights shares for every ten existing shares held by entitled shareholders as of the record date, with fractional entitlements disregarded. Additionally, the company will be issuing up to 14,650,605 new ordinary shares resulting from the exercise of additional warrants, as part of a warrants adjustment plan.
The adjustment stems from terms outlined in a deed poll executed by the company on 30 March 2022. This adjustment could potentially impact the number and exercise price of outstanding warrants, affecting up to 40,500,000 outstanding warrants as of the warrants record date. The actual adjustments might vary based on the number of warrants outstanding at that time, and the company will provide further announcements and notifications regarding the details.
The SGX-ST’s approval for the listing and quotation of the rights shares and additional warrants shares does not reflect an assessment of the merits of the proposed rights issue or the securities involved. Shareholders and potential investors should consider this information carefully, as it may affect the company’s stock value.
Yeung Kin Bond, Sydney, Group Chief Executive Director and Executive Director of GSS Energy Limited, made this announcement on 24 November 2024. The company’s sponsor, Evolve Capital Advisory Private Limited, reviewed the announcement, although it has not been examined or approved by SGX-ST, which does not assume responsibility for its content. For further inquiries, shareholders can contact Mr. Jerry Chua at Evolve Capital Advisory Private Limited.
This development is crucial for shareholders to monitor, as it may influence market perceptions and trading activities surrounding GSS Energy Limited’s shares.
Disclaimer: This article is intended for informational purposes only and should not be construed as investment advice. Readers are advised to conduct their own research or consult with a financial advisor before making any investment decisions.
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