YONGNAM HOLDINGS LIMITED (the "Company")

(Company Registration No. 199407612N)

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

ISSUE OF 7% REDEEMABLE CONVERTIBLE BONDS DUE 2022 OF AN AGGREGATE PRINCIPAL AMOUNT OF S$9,500,000 ("2021 BOND")

  • ISSUE OF CONVERSION SHARES AND CANCELLATION OF BONDS PURSUANT TO CONVERSION

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

The board of Directors (the "Board") of the Company wishes to announce the following:

  1. Conversion and Cancellation of Bonds, and Issue of Conversion Shares
    Two (2) Bondholders have opted to exercise their right(s) to convert, and the Company has accordingly cancelled, S$880,000 in aggregate principal amount of the Bonds, in accordance with the terms and conditions of the Bonds ("First Conversion").
    Pursuant to the First Conversion, the Company has on 22 November 2021 issued and allotted in total 17,600,000 Conversion Shares to the Bondholders at a Conversion Price of S$0.05 per Share.
    The Conversion Shares will rank pari passu in all respects with the existing Shares of the Company.
    The Conversion Shares are expected to be listed and quoted on the Main Board of the SGX-ST on or about 24 November 2021.
  2. Principal Amount of Bonds Outstanding and Resultant Share Capital of the Company
    Immediately before the First Conversion, an aggregate of S$ 9,500,000 in principal amount of the Bonds had been issued to the Subscribers. As stated by the Company in the Circular, no fresh proceeds had been raised from the Proposed Bonds Issue.
    Following the allotment and issue of the Conversion Shares, the aggregate principal amount of Bonds that remains outstanding as of 22 November 2021 is S$8,620,000, and the issued and paid-up share capital of the Company has increased from S$148,673,994.60 comprising 617,342,767 Shares to S$149,553,994.60 comprising 634,942,767 Shares.

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The Company will continue to keep shareholders updated and release announcements relating to the convertible bonds (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 November 2021

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Yongnam Holdings Limited published this content on 22 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 November 2021 10:53:03 UTC.