Bonds Referral Shares Sample Clauses

Bonds Referral Shares. Pursuant to an agreement between the Company and Xx Xxxxx (“Bonds Referral Agreement”), Xx Xxxxx is entitled to a referral fee amounting equivalent to 10% of the principal amount of Bonds subscribed, payable by the issue of new Shares (“Bonds Referral Shares”) at an issue price of S$0.015 per Bonds Referral Share. The issue price of S$0.015 represent premium of approximately 16.28% to the volume weighted average price of S$0.0129 for trades done on the Company’s shares on the SGX-ST for the full market day on 28 January 2020 (being the full market day immediately preceding the date of signing of the Bonds Referral Agreement). Assuming that the Bonds are fully subscribed, Xx Xxxxx will be entitled to receive S$2,500,000 payable by the allotment and issuance of 166,666,666 Bonds Referral Shares. The Bonds Referral Shares represent 16.60% of the Existing Share Capital and approximately 5.87% of Post Conversion Enlarged Capital. As at the date of this announcement, Xx Xxxxx has indicated that he is not seeking a board seat after being allotted and issued the Bonds Referral Shares. The Bonds Referral Shares shall be issued and allotted to Xx Xxxxx after completion of the subscription of the relevant Bonds and after the Company has obtained the listing and quotation and other requisite approval from the SGX-ST and relevant share issue mandate in respect of the Bonds Referral Shares. In the event such listing and quotation and other requisite approval by SGX-ST and/or a share issue mandate in respect of the Bonds Referral Shares is not obtained by the Company within thirty (30) days from the next annual general meeting to be convened by the Company after completion of the subscription of the relevant Bonds, the Company shall pay the Subscriber Referral Fee in cash. Xx Xxxxx is not related to any of the Directors, substantial Shareholders, or their respective associates. Xx Xxxxx is not a restricted person under Rule 812 of the Catalist Rules, and is not co-operating or acting in concert with any other Shareholders to obtain or consolidate effective control of the Company through the Bonds Referral Shares. There is also no past or present connection (including business relationship) between the Company, its subsidiaries, its Directors or substantial shareholders and Xx Xxxxx.
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