Tricklestar Receives Approval for Rights Issue Listing – What Shareholders Need to Know

Key Highlights:

• Tricklestar Limited has received the Listing and Quotation Notice (LQN) from the Singapore Exchange Securities Trading Limited (SGX-ST) for its Proposed Renounceable Non-Underwritten Rights Issue.
• The LQN allows for the listing and quotation of up to 67,426,073 Rights Shares, subject to compliance with SGX-ST listing requirements.
• The LQN was issued on 6 January 2025, following the initial announcement of the Proposed Rights Issue on 10 December 2024.

What Shareholders Should Know:

The Rights Issue, which is renounceable and non-underwritten, has been proposed to raise capital for Tricklestar Limited. While the exact terms and pricing of the Rights Shares are not disclosed in this announcement, the issuance of 67,426,073 Rights Shares could significantly dilute existing shareholdings if shareholders choose not to subscribe. This could also impact the company’s share price in the short term.

It is important to note that the LQN is not an endorsement of the merits of the Proposed Rights Issue. Shareholders are advised to carefully evaluate the potential benefits and risks associated with subscribing to these Rights Shares.

Potential Price Sensitivity:

The approval for listing could generate market interest, as it reflects progress in Tricklestar’s plans to raise funds. However, the market response will likely depend on the final terms of the Rights Issue, including the subscription price and the company’s intended use of the proceeds. If the pricing is perceived as attractive or the funds are allocated to value-accretive opportunities, the share price could see positive movement. Conversely, concerns over dilution or a lack of clarity in the use of funds may exert downward pressure on the stock.

Next Steps:

The company has stated that further announcements will be made as developments unfold. Shareholders should monitor updates closely to stay informed about any critical details, including subscription timelines and final pricing.

Company Statement:

According to Ling Hee Keat, Non-Executive Independent Chairman of Tricklestar Limited, the receipt of the LQN marks an important step in the company’s journey. The announcement was reviewed by the company’s sponsor, PrimePartners Corporate Finance Pte. Ltd., but has not been examined or approved by the SGX-ST, which assumes no responsibility for its contents.

For queries, shareholders may contact the sponsor representative, Mr. Shervyn Essex, at 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, or via email at sponsorship@ppcf.com.sg.

Disclaimer:

This article is for informational purposes only and should not be considered financial advice. Shareholders are encouraged to consult their financial advisors before making any investment decisions related to the Proposed Rights Issue.

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