SingXpress

SingXpress: entered into a conditional subscription agreement with Mr Chua Swee Wah for the issue of 243m new shares (5.3% of existing sh base) at 1.26cts/sh. This represents a 16% discount to the last closing px at 1.5 cts. There will be a 6mth moratorium on the new shares. Mr Chua was introduced by Mr Toh Soon Huat, a sh/h of the co, to Mr Chan Heng Fai, the Managing Director of the co. Prior to this, the co had issued a convertible bond, and a private placement in Apr ’12. The NAV and EPS effects are shown below.