Investments :: Receipt of approval in principle – Issuance of S $ 1,200,000 convertible loan note


JASPE LIMITED INVESTMENTS

(Incorporated in the Republic of Singapore)

(company registration number 198700983H)

ISSUANCE OF A CONVERTIBLE LOAN NOTE OF A MAIN AMOUNT OF S $ 1.20 MILLION CONVERTIBLE INTO NEW ORDINARY SHARES IN THE CAPITAL OF JASPER INVESTMENTS LIMITED AT A CONVERSION PRICE OF S $ 0.00315 PER SHARE TO PROVIDE FINANCING WORKING CAPITAL – RECEIPT OF APPROVAL IN PRINCIPLE

1. ORIGINS

  1. The board of directors (the “advice“or the”Directors“) of Jasper Investments Limited (the”Society“and with its subsidiaries, the”Group“) means the Company’s announcements of August 16, 2021, August 26, 2021 and November 14, 2021 (the”Previous announcements“) in connection with the proposed issuance of a convertible loan note to Rest Investments Ltd (the”Subscriber“) in a principal amount of S $ 1.20 million (the”Convertible loan note“) convertible into new ordinary shares (“Actions“) in the capital of the Company (the”Conversion actions“, and each, a”Conversion share“) at a conversion price of $ 0.00315 per Conversion Share.
  2. Unless otherwise defined, all capitalized terms used in this announcement will have the same meaning as assigned to them in previous announcements.

2. APPROVAL IN PRINCIPLE

  1. The Directors wish to announce that the Company obtained, on December 14, 2021, the approval in principle (the “AIP“) of SGX-ST with regard to the listing and listing of a maximum of 388,634,050 conversion shares (including up to 7,681,669 interest shares) on the SGX-ST main board , pursuant to the issuance of the convertible loan note in the principal amount of S $ 1.20 million convertible into up to 388,634,050 conversion shares (including up to 7,681,669 interest shares) at the price conversion rate of $ 0.00315 per conversion share, subject to compliance with SGX-ST listing requirements.
  2. AIP granted by the SGX-ST is subject to the following conditions:
    1. Announcement of the conditions under which the price of the conversion shares may be adjusted and the conditions under which the convertible loan note may be redeemed;
    2. A written commitment from the Company that it will comply with Listing Rule 803;
    3. Written confirmation from the Company that it will not issue the Convertible Loan Note and the Conversion Shares to persons prohibited under Rule 812 (1) of the Listing Manual;
    4. Written confirmation from the Company that the terms of the Convertible Debt Note comply with Listing Rule 829 (1);
    5. A written commitment from the Company to announce any adjustment made in accordance with Listing Rule 829 (1); and
    6. A written commitment by the Company that it will comply with Rule 704 (30) and Rule 1207 (20) of the Listing Manual with respect to the use of the proceeds of the proposed equity offering and when the proceeds are to be be used for working capital purposes, the Company will disclose a breakdown with specific details on the use of proceeds for working capital in the Company’s announcements on the use of proceeds and in the annual report;

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  1. Please note that the SGX-ST’s AIP should not be taken as an indication of the merits of the conversion actions, the convertible loan note, the company and / or its subsidiaries.
  2. The Company wishes to inform the Shareholders who, contrary to the Previous Announcements, have decided to allot and issue the Conversion Shares in accordance with the share issuance mandate obtained at the annual general meeting of the Company held on October 30 2021 instead of calling a separate general meeting to obtain specific approval from Shareholders. Accordingly, no circular will be issued to shareholders in this regard.
  1. DIRECTORS ‘STATEMENT OF RESPONSIBILITY
    The Directors collectively and individually accept full responsibility for the accuracy of the information provided in this announcement and confirm after making all reasonable inquiries that, to the best of their knowledge and belief, this announcement constitutes full and true disclosure of all important facts about the Convertible. Loan Note, the Company and its subsidiaries, and the Directors are not aware of any fact the omission of which would render a misrepresentation in this announcement. Where information in this advertisement has been extracted from published or otherwise publicly available sources or obtained from a named source, the directors’ sole responsibility has been to ensure that such information has been accurately and correctly extracted from such sources. and / or reproduced therein in its appropriate form and context.
  2. COMMERCIAL ATTENTION
    Shareholders are urged to exercise caution in dealing in their Shares. There is no certainty or assurance as of the date of this announcement that the proposed grant and issuance of the Convertible Loan Note and the Conversion Actions will be completed or that no changes will be made to their terms. Shareholders are invited to carefully read this announcement and any other announcement made by the Company. Shareholders should consult their brokers, bank managers, lawyers or other professional advisers if in any doubt as to what action they should take.

BY ORDER OF THE COUNCIL

JASPE LIMITED INVESTMENTS

Lai Wing Chong, Kenneth

Executive Director and Chief Executive Officer

December 14, 2021

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Warning

Jasper Investments Limited published this content on December 15, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on December 14, 2021 04:17:03 PM UTC.

Public now 2021

All news on JASPER INVESTMENTS LIMITED
Sales 2021

Net income 2021 -0.43M
-0.32M
-0.32M
Net debt 2021 0.19 M
0.14 M
0.14 M
PER 2021 ratio -50.5x
Yield 2021
Capitalization 17.4 million
12.7 million
12.7 million
VE / Sales 2020
VE / Sales 2021
Number of employees
Free float 54.5%

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