TrickleStar Limited, a Singapore-based company (Registration No. 201837106C), has announced details of its proposed renounceable non-underwritten rights issue. This development offers existing shareholders an opportunity to purchase additional shares at a discounted price, potentially impacting TrickleStar’s share value and providing avenues for strategic investment.

Key Highlights of the Rights Issue

• Issue Size: Up to 67,426,073 new Rights Shares will be offered at S\$0.015 per share, significantly below the current trading price.
• Entitlement Ratio: Shareholders are entitled to four (4) Rights Shares for every five (5) shares held as of the Record Date. Fractional entitlements will be disregarded.
• Record Date: The register of members and share transfer books will close at 5:00 p.m. (Singapore time) on 21 January 2025.
• Trading Timeline: Shares will trade on a “cum-rights” basis until 5:00 p.m. on 17 January 2025 and switch to “ex-rights” from 9:00 a.m. on 20 January 2025, meaning anyone purchasing shares on or after this date will not qualify for the rights issue.

Important Information for Shareholders

Eligibility Criteria

• Entitled Depositors: Shareholders with securities accounts credited with TrickleStar shares as of the Record Date and who have registered Singapore addresses will be eligible. Those with overseas addresses must provide a Singapore address by 5:00 p.m., three market days before the Record Date.
• Entitled Scripholders: Shareholders holding physical share certificates must submit necessary documents to TrickleStar’s share registrar, Tricor Barbinder Share Registration Services, by the Record Date.
• Foreign Shareholders: Shareholders with registered addresses outside Singapore are excluded from the rights issue unless they provide a Singapore address at least three market days prior to the Record Date.

Supplementary Retirement Scheme (SRS) Investors

• Investors who hold shares through the SRS can use funds in their SRS accounts to accept their allotted Rights Shares or apply for excess shares, subject to applicable SRS rules and contribution caps.
• Applications must be processed through the respective approved banks, and direct applications to TrickleStar, CDP, or other entities will be rejected.

Exclusion of Foreign Shareholders

Due to compliance with securities laws in jurisdictions outside Singapore, the rights issue will not be extended to foreign shareholders. Any entitlements that would otherwise accrue to foreign shareholders may be sold on a “nil-paid” basis on the SGX-ST, with proceeds distributed according to the Offer Information Statement.

Potential Implications for Shareholders

The proposed rights issue represents an opportunity for existing shareholders to increase their holdings at a discounted rate. However, shareholders are advised to exercise caution as there is no certainty that the rights issue will proceed as planned. Additionally, the discounted price of S\$0.015 per share could exert downward pressure on TrickleStar’s share price in the short term.

Investors are encouraged to carefully review the Offer Information Statement, which will be disseminated electronically in due course, and consult financial advisors before making any decisions.

Cautionary Statement

TrickleStar’s board emphasized that the rights issue remains subject to final terms and completion. Further announcements will be made to keep shareholders informed of any material updates. Shareholders and potential investors should monitor developments closely and seek professional financial, tax, or legal advice if in doubt.