Enviro-hub

Enviro-hub: Group entered a placement agreement which involves 41m new shares (4.2% of share capital) at a placement price of $0.11 per share. The placement price was derived on a 6.62% discount from the VWAP on 17 Jun of $0.1178. The basis for the placement is to fund further acquisitions when opportunities arise and to strengthen the group's working capital. Separately, the group entered into a share lending agreement with Su Ming Tong for the facilitation of the delivery for the placement shares to the private investors. Over the past week since 11 Jun, Enviro-hub's share price saw a strong run-up of 30% from $0.094 to the last closing price of $0.122, upon which no relevant corporate announcements was made. The convergence towards the proposed placement price of $0.11 would not be unanticipated.