Equation

Equationl Trading to resume at 3.15 pm. Grp annouced a proposed placement to Asdew Acquisitions and Sino Expert Investment Limited for the issue and allotment of 148m new shares. The subscription price will be at $0.0135 per Share. The total consideration for the Subscription is $1.998m. The Co intends to use 100% of the net proceeds for the Group’s general working capital purposes. Recall that Asdew acquisitions is owned by 'renowned local investor Mr Alan Wang, who has in the past invested in Co's like Sarin etc. Equation: Seperately from the above mention placement, the Co. has also entered into a placement agreement with Mr Peter Tan Shou Yi, for 69.4m shares in the Co, at a subscription price of $0.0135 per Share. Mr. Peter Tan Shou Yi is a businessman who owns several co's diversified across Asia and they include consultancy, training, education and concierge services.