FSGL: Announcement on the Bonus Issue of Warrants – Listing and Quotation of the Warrants

General Announcement::Announcement by Associated Company, First Sponsor Grou... Page 1 of 1

GENERAL ANNOUNCEMENT::ANNOUNCEMENT BY ASSOCIATED COMPANY, FIRST SPONSOR GROUP LIMITED

Issuer & Securities

Issuer/ Manager

CITY DEVELOPMENTS LIMITED

Securities

CITY DEVELOPMENTS LIMITED - SG1R89002252 - C09

Stapled Security

No

Announcement Details

Announcement Title

General Announcement

Date &Time of Broadcast

23-Sep-2020 12:17:12

Status

New

Announcement Sub Title

Announcement by Associated Company, First Sponsor Group Limited

Announcement Reference

SG200923OTHRZBDN

Submitted By (Co./ Ind. Name)

Enid Ling Peek Fong

Designation

Company Secretary

Description (Please provide a detailed description of the event in the box below)

First Sponsor Group Limited ("FSGL"), an associated company, has on 22 September 2020 released an announcement relating to the Bonus Issue of Warrants - Listing and Quotation of the Warrants.

For details, please refer to the announcement released by FSGL on the SGX website www.sgx.com

https://links.sgx.com/1.0.0/corporate-announcements/IFDBKFFBH7IXZSXX/f347a40... 9/23/2020

Not for publication or distribution in the United States, Canada, Japan or Australia.

This announcement is not an offer for sale of securities into the United States or elsewhere. The securities are not being registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States unless registered under the Securities Act or pursuant to an exemption from registration under the Securities Act. There will be no public offering of securities in the United States.

FIRST SPONSOR GROUP LIMITED

(Incorporated in the Cayman Islands)

(Registration No. AT-195714)

BONUS ISSUE OF WARRANTS - LISTING AND QUOTATION OF THE WARRANTS

1. INTRODUCTION
   The board of directors (the "Directors") of First Sponsor Group Limited (the "Company") refers to the Company's announcements on 23 July 2020, 3 August 2020 and 5 August 2020 (the "Announcements") in relation to the Bonus Issue. Unless otherwise defined herein or the context otherwise requires, all capitalised terms used in this announcement shall have the meanings ascribed to them in the Announcements.
2. ISSUE OF THE WARRANTS
   Further to the closing of the Register of Members and the Share Transfer Books of the Company on the Record Date, the Directors wish to announce that a total of 227,618,864 Warrants under the Bonus Issue, were issued by the Company on 22 September 2020.
   As the Warrants were issued free, there were no proceeds raised initially from the issue of the Warrants under the Bonus Issue. Assuming all the Warrants issued under the Bonus Issue are exercised at the Exercise Price, and no adjustments are made to the Exercise Price and/or the number of Warrants, the estimated gross proceeds from the exercise of the Warrants are expected to be approximately S$245.8 million.
3. LISTING OF THE WARRANTS
   Accordingly, 227,618,864 Warrants under the Bonus Issue, will be listed, quoted and traded on the Main Board of the SGX-ST with effect from 9.00 a.m. on 24 September 2020.
4. TRADING OF ODD LOTS
   For the purposes of trading on the Main Board of the SGX-ST, each board lot of Warrants will comprise 100 Warrants, and each board lot of Warrant Exercise Shares will comprise 100 Shares. Shareholders who hold odd lots of the Warrants (that is, lots other than board lots of 100 Warrants) or odd lots of single Shares (that is, lots other than board lots of 100 Shares) and who wish to trade in odd lots on the SGX-ST are able to trade odd lots of one Warrant and odd lots of one Share, as the case may be, on the Unit Share Market.