Option to Scale Down Sample Clauses

Option to Scale Down. Save for the Investor and parties acting in concert with it (as explained below), depending on the level of subscription for the Rights Shares with Warrants, the Company will, if necessary, and upon the approval of the Sponsor and/or the SGX-ST, scale down the subscription and/or excess applications for the Rights Shares with Warrants by any of the Shareholders (if such Shareholder chooses to subscribe for its pro rata Rights Shares with Warrants entitlements and/or apply for excess Rights Shares with Warrants) to avoid placing the relevant Shareholder and parties acting in concert with it (as defined in the Singapore Code on Takeovers and Mergers (the “Code”)) in the position of incurring a mandatory general offer obligation under the Code, as a result of other Shareholders not taking up their Rights Shares with Warrants entitlements fully.
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Related to Option to Scale Down

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