Yongnam : Completion Of Proposed Issue Of Facilitation Payment Shares

YONGNAM HOLDINGS LIMITED

(the "Company")

(Company Registration No. 199407612N)

(Incorporated in the Republic of Singapore on 19 October 1994)

1. PROPOSED ISSUE OF 19,736,836 NEW SHARES AND (2) PROPOSED ISSUE OF S$9.5
   MILLION IN AGGREGATE PRINCIPAL AMOUNT OF NEW REDEEMABLE CONVERTIBLE BONDS TO HOLDERS OF THE EXISTING REDEEMABLE CONVERTIBLE BONDS DUE 2021

COMPLETION OF PROPOSED ISSUE OF FACILITATION PAYMENT SHARES

Unless otherwise defined, capitalised terms used in this announcement shall have the meanings ascribed to them in the Announcements.

1. INTRODUCTION
   The board of directors (the "Board" or "Directors") of Yongnam Holdings Limited (the "Company", and together with its subsidiaries, the "Group") refers to the Company's earlier announcements dated 4 June 2021 and 21 June 2021 (the "Announcements") in relation to
   (1) the proposed issue of 19,736,836 new shares and (2) the proposed issue of S$9.5 million in aggregate principal amount of new redeemable convertible bonds to holders of the existing redeemable convertible bonds due 2021.
2. APPROVAL IN-PRINCIPLE IN RELATION TO THE FACILITATION PAYMENT SHARES

Further to the Announcements, the Board is pleased to announce that the Company has, on 22 June 2021 (the "Facilitation Payment Shares Issue Date"), allotted and issued 19,736,836 Facilitation Payment Shares in accordance with the terms of the Facilitation Payment Agreements dated 3 June 2021.

Following completion of the issue of Facilitation Payment Shares, the total number of issued Shares of the Company has increased from 597,605,931 to 617,342,767 Shares.

The Facilitation Payment Shares conform in all material respects and rank pari passu with the other Shares of the Company outstanding as at the Facilitation Payment Shares Issue Date.

The 19,736,836 Facilitation Payment Shares are expected to be listed and quoted on the Official List of the SGX-ST from 9.00 a.m. on 24 June 2021.

The AIP granted by the SGX-ST is not to be taken as an indication of the merits of the Facilitation Payment Shares, the Facilitation Payment Agreements, the Company and/or its subsidiaries.

3. FURTHER ANNOUNCEMENTS

The Company will continue to keep shareholders updated and release announcements relating to the Proposed Transactions (including any material developments and progress made) as may be appropriate from time to time.

By Order of the Board

SEOW SOON YONG

Chief Executive Officer

22 June 2021