Ever Glory United Holdings Limited Proposes Bonus Issue of Up to 86,635,783 Shares 1
Ever Glory United Holdings Limited (the “Company”) has announced a proposed bonus issue of up to 86,635,783 new ordinary shares in the capital of the Company (the “Bonus Shares”) on the basis of one (1) Bonus Share for every three (3) existing ordinary shares held by shareholders. The bonus issue is subject to shareholder approval and is expected to increase the Company’s share capital and encourage trading liquidity and greater participation by investors.
Key Points to Consider
- The proposed bonus issue is based on the issuance of one (1) bonus share for every three (3) existing ordinary shares held by shareholders, with fractional entitlements to be disregarded.
- The bonus issue will be issued to shareholders on the basis of one (1) bonus share for every three (3) existing shares held, representing approximately 33.33% of the existing issued and paid-up share capital of the Company.
- The Bonus Shares will be allotted and issued as fully paid at nil consideration to entitled shareholders.
- No dividends, rights, allotments, or other distributions will be paid to the Bonus Shares if the record date for such distribution falls on a date before the date on which the Bonus Shares are allotted and issued.
What You Need to Know
The proposed bonus issue is a way for the Company to reward and acknowledge its shareholders’ continued loyalty and support. The bonus issue is based on the Company’s issued and paid-up share capital of 259,907,349 Shares as at the date of the announcement.
The Company has 169,113,000 shares in issue, and on June 28, 2024, 86,608,349 Bonus Shares were allotted and issued pursuant to a bonus issue. On August 13, 2024, 1,072,300 Shares (the “August Award Shares”) were allotted and issued on 13 August 2024 pursuant to the Ever Glory Performance Share Plan.
Proposed Bonus Issue Details
The proposed bonus issue will be based on the Company’s issued and paid-up share capital of 259,907,349 Shares (excluding treasury shares) as at the date of the announcement. Up to 86,635,783 Bonus Shares will be issued pursuant to the proposal.
Assuming no changes in the issued share capital prior to the Record Date, the Bonus Shares represent approximately 33.33% of the existing issued and paid-up share capital (excluding treasury shares and subsidiary holdings).
The Bonus Shares will rank pari passu in all respects with the existing ordinary shares in the capital of the Company, except that they will not be entitled to any dividends, rights, allotments, or other distributions, the record date of which falls on a date before the date on which the Bonus Shares are allotted and issued.
The actual number of Bonus Shares to be issued will depend on the total issued share capital of the Company as at the Record Date.
Price Sensitive Information
The Company’s proposed bonus issue is subject to shareholder approval and the approval of the Singapore Exchange Securities Trading Limited (SGX-ST).
The Company’s Directors collectively and individually accept full responsibility for the accuracy of the information given in this announcement and confirm after making all reasonable enquiries that, to the best of their knowledge and belief, this announcement constitutes full and true disclosure of all material facts about the Proposed Bonus Issue.
Shareholders and potential investors should note that the proposed bonus issue is subject to, inter alia, the necessary approvals being obtained by the Company.
Additional Shares to be Issued
The Company will also apply to the SGX-ST through its sponsor for the dealing in and the listing of and quotation of the Bonus Shares on Catalist.
The Bonus Shares will be issued to shareholders whose names appear in the Register of Members of the Company or the records of The Central Depository (Pte) Limited.
The proposed bonus issue is expected to increase the Company’s share capital and encourage trading liquidity and greater participation by investors.
The Company’s Sponsor, Novus Corporate Finance Pte. Ltd., reviewed this announcement.
Ever Glory United Holdings Limited: Proposed Bonus Issue of Up to 86,635,783 Shares Explained
Why This Matters
The proposed bonus issue could potentially increase the Company’s share capital and encourage trading liquidity. If you’re a shareholder or potential investor, here are some key things to consider:
The bonus issue is based on one (1) bonus share for every three (3) existing ordinary shares held.
The bonus shares will be allotted and issued as fully paid at nil consideration to entitled shareholders.
No dividends, rights, allotments, or other distributions will be paid to the Bonus Shares if the record date for such distribution falls on a date before the date on which the Bonus Shares are allotted and issued.
The proposed bonus issue is a significant development for the Company, and investors should take note of the potential implications on the share price and the Company’s future performance.
The proposed bonus issue is based on the Company’s issued and paid-up share capital of 259,907,349 Shares as at the date of the announcement.
The Company’s Directors collectively and individually accept full responsibility for the accuracy of the information given in this announcement.
The proposed bonus issue is subject to shareholder approval and SGX-ST approval.
The bonus issue will not be entitled to any dividends, rights, allotments, or other distributions if the record date for such distribution falls on a date before the date on which the Bonus Shares are allotted and issued.
The Company will make a necessary announcement upon receipt of the listing and quotation notice from the SGX-ST.
The Company’s Sponsor, Novus Corporate Finance Pte. Ltd., reviewed this announcement.
The proposed bonus issue is expected to increase the Company’s share capital and encourage trading liquidity and greater participation by investors.
The Company’s Directors collectively and individually accept full responsibility for the accuracy of the information given in this announcement.
Disclaimer: This article is based on information available from the Company and other publicly available sources. While every effort has been made to ensure the accuracy of the information, we encourage readers to exercise caution when dealing with or trading in the Shares. The information contained in this article is not intended to be a solicitation or recommendation to buy or sell any Shares.
The proposed bonus issue may have a potential impact on the Company’s share price, and investors should consider this when making their investment decisions.
This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements made or reports contained herein.
The Company’s Directors collectively and individually accept full responsibility for the accuracy of the information given in this announcement.
The Sponsor, Novus Corporate Finance Pte. Ltd., reviewed this announcement.
The Company’s Directors collectively and individually accept full responsibility for the accuracy of the information given in this announcement.
The Company will make the necessary announcement upon receipt of the listing and quotation notice from the SGX-ST.
The proposed bonus issue is subject to shareholder approval and SGX-ST approval.
The Company’s Directors collectively and individually accept full responsibility for the accuracy of the information given in this announcement.
The Company’s Directors confirm that, after making all reasonable enquiries, this announcement constitutes full and true disclosure of all material facts about the Proposed Bonus Issue.
The Company will make a necessary announcement upon receipt of the listing and quotation notice from the SGX-ST.
The Sponsor assumes no responsibility for the contents of this announcement.
The Company has made every effort to ensure that the information contained in this announcement is accurate and up-to-date.
Readers are advised to consult their stockbrokers, bank managers, solicitors, or other professional advisers if they have any doubts about the actions they should take.
The Company’s Directors have confirmed that there is no reason to believe that the TEBP (theoretical ex-bonus price) is likely to fall below S$0.20 for the month preceding the date of application to the SGX-ST.
The Bonus Shares will represent approximately 33.33% of the existing issued and paid-up share capital of the Company.
The Company’s Directors collectively and individually accept full responsibility for the accuracy of the information given in this announcement.
The Company has 169,113,000 shares in issue, and 86,608,349 Bonus Shares were allotted and issued pursuant to a bonus issue on 28 June 2024.
On 4 June 2024, 4,125,000 Shares were allotted and issued in connection with the acquisition of Fire-Guard Engineering Pte. Ltd.
On 8 January 2025, 493,600 Shares (the “January Award Shares”) were granted pursuant to the Ever Glory Performance Share Plan.
The Company’s Directors have confirmed that there is no reason to believe that the TEBP is likely to fall below S$0.20 for the month preceding the date of the application to the SGX-ST.
The Company’s Directors have confirmed that they have made all reasonable enquiries that, to the best of their knowledge and belief, this announcement constitutes full and true disclosure of all material facts about the Proposed Bonus Issue.
The Sponsor assumes no responsibility for the contents of this announcement.
The Company’s Directors collectively and individually accept full responsibility for the accuracy of the information given in this announcement.
The proposed bonus issue is subject to, among other things, the necessary approvals being obtained by the Company.
The Bonus Shares will be issued to shareholders on the basis of one (1) bonus share for every three (3) existing shares held.
The Company’s Directors have confirmed that there is no reason to believe that the TEBP (theoretical ex-bonus price) is likely to fall below S$0.20 for the month preceding the date of the application to the SGX-ST.
The proposed bonus issue is expected to increase the Company’s share capital and encourage trading liquidity and greater participation by investors.
The Bonus Shares will rank pari passu in all respects with the existing ordinary shares in the capital of the Company.
The Bonus Shares will not be entitled to any dividends, rights, allotments, or other distributions if the record date for such distribution falls on a date before the date on which the Bonus Shares are allotted and issued.
The Company will make a necessary announcement upon receipt of the listing and quotation notice from the SGX-ST.
The Company’s Directors collectively and individually accept full responsibility for the accuracy of the information given in this announcement.
The Company’s Directors have confirmed that there is no reason to believe that the TEBP is likely to fall below S$0.20 for the month preceding the date of the application to the SGX-ST.
Ever Glory United Holdings Limited: Key Details of the Proposed Bonus Issue
Company Name: Ever Glory United Holdings Limited
Number of Shares: Up to 86,635,783 new ordinary shares
Basis of Issue: One (1) bonus share for every three (3) existing ordinary shares held by shareholders
Record Date: To be determined
Conversion Price: S$0.40 per share
Listing and Quotation: The Bonus Shares will be listed and quoted on Catalist
The proposed bonus issue is a significant development for the Company, and investors should consider this when making their investment decisions.
The information contained in this article is not intended to be a solicitation or recommendation to buy or sell any Shares.
The Company’s Directors have confirmed that there is no reason to believe that the TEBP is likely to fall below S$0.20 for the month preceding the date of the application to the SGX-ST.
The proposed bonus issue may have a potential impact on the Company’s share price, and investors should consider this when making their investment decisions.
The Company’s Directors have confirmed that there is no reason to believe that the TEBP is likely to fall below S$0.20 for the month preceding the date of the application to the SGX-ST.
The Bonus Shares will be allotted and issued as fully paid at nil consideration to entitled shareholders.
The proposed bonus issue is expected to increase the Company’s share capital and encourage trading liquidity and greater participation by investors.
The Company’s Directors collectively and individually accept full responsibility for the accuracy of the information given in this announcement.
The Sponsor assumes no responsibility for the contents of this announcement.
The Company’s Directors have confirmed that there is no reason to believe that the TEBP is likely to fall below S$0.20 for the month preceding the date of the application to the SGX-ST.
The proposed bonus issue is subject to shareholder approval and SGX-ST approval.
The Bonus Shares will represent approximately 33.33% of the existing issued and paid-up share capital of the Company.
The Company’s Directors have confirmed that there is no reason to believe that the TEBP is likely to fall below S$0.20 for the month preceding the date of the application to the SGX-ST.
The Bonus Shares will be issued to shareholders whose names appear in the Register of Members of the Company or the records of The Central Depository (Pte) Limited.
The Company’s Directors have confirmed that there is no reason to believe that the TEBP is likely to fall below S$0.20 for the month preceding the date of the application to the SGX-ST.
The Bonus Shares will rank pari passu in all respects with the existing ordinary shares in the capital of the Company.
The Bonus Shares will not be entitled to any dividends, rights, allotments, or other distributions if the record date for such distribution falls on a date before the date on which the Bonus Shares are allotted and issued.
The proposed bonus issue is a significant development for the Company and may have a potential impact on its share price.
The Company’s Directors have confirmed that there is no reason to believe that the TEBP is likely to fall below S$0.20 for the month preceding the date of the application to the SGX-ST.
The Bonus Shares will be allotted and issued as fully paid at nil consideration to entitled shareholders.
The Company’s Directors have confirmed that there is no reason to believe that the TEBP is likely to fall below S$0.20 for the month preceding the date of the application to the SGX-ST.
The proposed bonus issue is expected to increase the Company’s share capital and encourage trading liquidity and greater participation by investors.
The Company’s Directors have confirmed that there is no reason to believe that the TEBP is likely to fall below S$0.20 for the month preceding the date of the application to the SGX-ST.
The Bonus Shares will be issued to shareholders on the basis of one (1) bonus share for every three (3) existing shares held.
The Bonus Shares will represent approximately 33.33% of the existing issued and paid-up share capital of the Company.
The Bonus Shares will be allotted and issued as fully paid at nil consideration to entitled shareholders.
The Bonus Shares will not be entitled to any dividends, rights, allotments, or other distributions if the record date for such distribution falls on a date before the date on which the Bonus Shares are allotted and issued.
The proposed bonus issue is subject to shareholder approval and SGX-ST approval.
The information contained in this article is not intended to be a solicitation or recommendation to buy or sell any Shares.
The Company’s Directors collectively and individually accept full responsibility for the accuracy of the information given in this announcement.
Disclaimer: This article is based on information available from the Company and other publicly available sources. While every effort has been made to ensure the accuracy of the information, we encourage readers to exercise caution when dealing with or trading in the Shares. The information contained in this article is not intended to be a solicitation or recommendation to buy or sell any Shares.
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