Yongnam : Replace - Proposed Placement And Issuance Of Redeemable Convertible Bonds

YONGNAM HOLDINGS LIMITED (the "Company")

(Company Registration No. 199407612N)

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

ADDENDUM TO ANNOUNCEMENT ON 22 MAY 2019 - PROPOSED PLACEMENT AND ISSUANCE OF UP TO S$15,000,000 IN AGGREGATE PRINCIPAL AMOUNT OF REDEEMABLE CONVERTIBLE BONDS

Unless otherwise defined, all capitalised terms used in this announcement shall bear the same meanings as ascribed to them in the Company's announcement on the Proposed Placement which was released on 22 May 2019 (the "Previous Announcement").

The board of directors (the "Board" or "Directors") of Yongnam Holdings Limited (the "Company", and together with its subsidiaries, the "Group") refer to the Previous Announcement and wish to correct typographical errors in paragraph 8 of the Previous Announcement (as underlined). The pro forma financial effects of the Proposed Placement in respect of the NTA per share, based on the audited consolidated financial statements of the Group for the financial year ended 31 December 2018 ("FY2018"), as well as the footnote to the table, should be read as:

			Before completion of	After completion of	After completion of
			Proposed Placement(1)	Proposed Placement(1)	Proposed Placement
					and assuming all
					Shares have been
					allotted and issued(2)
NTA	per	share	47.01	46.91	42.90
(Singapore cents)

Note:

1. Based on 522,602,931 shares in the Company (excluding treasury shares) in issue as at the date of this announcement.
2. Based on 606,401,814shares in the Company (excluding treasury shares) in issue, assuming that the amount of S$15,000,000 Bonds were exercised by the Bondholders and 83,798,883 Shares were issued and allotted to the Bondholders.

By Order of the Board

YONGNAM HOLDINGS LIMITED

SEOW SOON YONG

Chief Executive Officer

23 May 2019

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