Proposed Spin-off and Listing of the UnUsUaL Group of Companies on the Catalist Board of the Singapo
PROPOSED SPIN-OFF AND LISTING OF THE UnUsUaL GROUP OF COMPANIES ON
THE CATALIST BOARD OF THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED
The board of directors (the “Board”) of mm2 Asia Ltd. (the “Company”, and together with its subsidiaries, the “Group”) refers to the announcements released by the Company on 12 May 2016, 31 May 2016, 9 June 2016, 11 August 2016, 18 November 2016, 29 December 2016, 22 February 2017 and 2 March 2017 (the “Announcements”). Unless otherwise defined, all terms and references used herein shall bear the same meaning ascribed to them in the Announcements.
The Company wishes to announce that pursuant to the Company’s submission and based on the representations made in the course of the Company’s submission, the Board wishes to announce that the Singapore Exchange Securities Trading Limited (“SGX-ST”) has advised that it has no objection to the Proposed Spin-off, subject to the following conditions:
(i) compliance with the SGX-ST’s listing rules;
(ii) shareholders’ approval for the Proposed Listing being obtained at the Extraordinary General Meeting to be convened; The Company will announce any material developments on the Proposed Spin-off as and when appropriate.
The Company would like to highlight that the Proposed Listing is in its preliminary stages and is dependent on and subject to, inter alia, the results of preparatory work to be undertaken, the requisite approvals from the relevant regulatory authorities, compliance with the Catalist Rules and the then-prevailing market conditions. Further, the Directors may, notwithstanding that all requisite regulatory approvals have been obtained, decide not to proceed with the Proposed Listing if, having regard to investors’ interests and response at the material time and any other relevant factors, the Directors deem it not in the interests of the Company to proceed with the Proposed Listing.
Accordingly, there is no assurance that the Proposed Listing will materialise in due course. Shareholders and other investors are reminded to exercise caution when dealing in the securities of the Company and should consult their stockbrokers, bank managers, solicitors, accountants or other professional advisers if they are in doubt about the actions that they should take.
By Order of the Board
Melvin Ang Wee Chye
Executive Chairman, Chief Executive Officer and Executive Director
3 March 2017