Eratat

Eratat: Could see some negative sentiments, after announcing that SGX has indicated that it is unable to agree to the Company's application for the listing and quotation of 81.9m subscription Shares, as requirements are that ‘issue of shares must not be priced at more than 10% discount to the weighted average price for trades done on the SGX for the full market day on which the placement or subscription agreement is signed’….

Pursuant to the SGX, the Board wishes to announce that the Proposed Subscription will not be undertaken. The Board has not made a final decision on whether or not a similar placement or subscription exercise will be undertaken at a later date….

Recall earlier that Placement had initially been planned for the use of working capital purposes to grow the Grp’s revenue and expand distribution network for its ERATAT Brand lifestyle casual wear business. Technically, see near term support at $0.225 (Recent low) and resistance at $0.27.