Meta Health Limited, a Singapore-based healthcare company, has announced a significant development regarding its proposed renounceable, non-underwritten rights issue of up to 264,078,029 new ordinary shares. The company disclosed that it has received a Listing and Quotation Notice (LQN) from the Singapore Exchange Securities Trading Limited (SGX-ST) on 3 January 2025. This marks a pivotal milestone in its efforts to raise additional capital.

Key Points from the Announcement

• The rights issue allows existing shareholders to purchase additional shares in proportion to their holdings, offering a potential opportunity for shareholders to increase their stake in the company.
• The LQN approval is for the listing and quotation of up to 264,078,029 new shares on the Catalist board of the SGX-ST.
• The approval is conditional on Meta Health Limited meeting SGX-ST’s listing requirements.
• The LQN does not serve as an endorsement of the merits of the rights issue, the company, or its securities.

Details for Shareholders

An Offer Information Statement, containing comprehensive details about the rights issue, will be disseminated to entitled shareholders in due course. The company has assured that all appropriate announcements regarding the lodgment and distribution of the Offer Information Statement will be made promptly.

Shareholders should note that the completion of the rights issue is subject to certain conditions, and there is no guarantee of its successful execution. Additionally, there is no assurance that the terms of the rights issue will remain unchanged.

Potential Impact on Share Values

This announcement could influence Meta Health Limited’s share price in the short term, as the rights issue represents a strategic move to raise funds. Existing shareholders may need to assess whether to take up their rights, while potential investors could react to the implications of the increased share capital. However, the company has cautioned that the LQN should not be interpreted as a validation of the rights issue’s merits.

Cautionary Statement for Investors

The board has advised shareholders and potential investors to exercise caution when trading or dealing in the company’s shares. Given the uncertainties surrounding the completion of the rights issue and potential changes to its terms, investors are encouraged to review all related announcements carefully. If in doubt, they should seek advice from financial professionals.

Official Statement

The announcement, dated 6 January 2025, was issued by Company Secretary Gwendolin Lee Soo Fern. It was reviewed by the company’s sponsor, ZICO Capital Pte. Ltd., though it has not been examined or approved by SGX-ST. The sponsor’s point of contact, Ms. Lim Hui Zheng, is available for any related queries.