CH Offshore Ltd. Announces Proposed Rights Issue, Receives SGX-ST Approval In-Principle
In a move that could significantly impact the share price of CH Offshore Ltd. (the “Company”), the company has announced a proposed renounceable non-underwritten rights issue (the “Rights Issue”). This strategic decision has received the approval-in-principle from the Singapore Exchange Securities Trading Limited (SGX-ST).
Key Highlights:
- The Rights Issue will involve the issuance of up to 1,409,785,028 new ordinary shares (the “Rights Shares”) at an issue price of S\$0.01 per share.
- The Rights Shares will be issued on the basis of two (2) Rights Shares for every one (1) existing ordinary share in the Company.
- The SGX-ST has granted its approval-in-principle for the listing and quotation of the Rights Shares, subject to certain conditions.
- The Company has provided the necessary written undertakings and confirmations required by the SGX-ST.
The proposed Rights Issue is a significant development for the Company and its shareholders. The additional capital raised through the Rights Issue could be used to strengthen the Company’s financial position, fund potential growth initiatives, or support its overall business strategy. Investors should carefully consider the potential impact on the Company’s share price and future prospects.
It is important for shareholders to note that the Rights Issue is subject to their approval, as well as the fulfillment of the conditions set by the SGX-ST. The Company will make further announcements regarding the progress and implementation of the Rights Issue in due course.
Potential Price-Sensitive Information:
- The successful completion of the Rights Issue could lead to a dilution of existing shareholders’ equity, which may impact the share price.
- The use of the proceeds from the Rights Issue, whether for working capital, growth initiatives, or other purposes, could affect the Company’s financial performance and, consequently, its share price.
- The Company’s ability to maintain its listing status and restore its free float, as required by the SGX-ST, could also influence investor sentiment and the share price.
Investors are advised to closely monitor the Company’s announcements and seek professional financial advice before making any investment decisions.
Disclaimer:
This article is for informational purposes only and does not constitute a recommendation to buy, sell, or hold any securities of CH Offshore Ltd. The information provided is based on publicly available data and may not be complete or accurate. Investors should conduct their own due diligence and consult with a financial advisor before making any investment decisions.
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