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CAMSING Healthcare, whose shares have been suspended since 2019, will resume trading on the Singapore Exchange on Thursday (Jul 4).
In bourse filings released late on Wednesday, the company said it has obtained the Singapore Exchange Regulation’s (SGX RegCo) concurrence on its application to resume the trading of its shares with effect from 9 am on Thursday.
It received the green light after fulfilling trade resumption conditions and the completion of a new investment – which involves the proposed placement of 60,000,007 new ordinary shares issued at S$0.05 per subscription share, as well as the issuance of unlisted zero-coupon mandatory convertible bonds in the principal amount of up to S$2,500,000.
Camsing said both the new subscription shares and convertible bonds have been allotted and issued to relevant investors.
As part of the trading resumption conditions, the company confirmed that it has complied with SGX’s continuing listing requirements.
It has provided a written undertaking that it will comply with listing rules in relation to the use of the proceeds from the proposed placement. This includes disclosing a breakdown with specific details on the use of proceeds for working capital in subsequent announcements and in its annual report.
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In addition, Camsing shared that as the proposed placement and proposed issuance have been completed, the proceeds have been released from escrow to the company.
Camsing will also source and appoint one additional independent director within three months of the listing and quotation of the subscription shares and the conversion shares. This independent director shall be sourced via a third-party independent selection process and shall be subject to SGX’s approval.
Following the completion of the proposed placement and issuance, Camsing’s total issued share capital has increased from 29,999,993 shares to 90,000,000 shares.
The subscription shares are expected to be listed and quoted on the mainboard of the SGX with effect from 9 am on Thursday.
Camsing Healthcare distributes and retails health supplements and foods through its brand Nature’s Farm. The company has been embroiled in a number of controversies, including a dispute between its business partners and a potential investor in 2022, and the arrest of its chairman Lo Ching in 2019.
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