Singapore eDevelopment shareholders junk proposed rights and warrants issue

Over 96% of unitholders opposed the proposal.

Shareholders of Catalist-listed Singapore eDevelopment Limited have rejected its proposed rights cum warrants issue, the company revealed after  an extraordinary general meeting (EGM) on Thursday.

The proposal was rejected by 96.16 per cent of the vote, or 54,032,950 of the 56,188,980 shares represented by votes.

The rights cum warrants issue had been proposed in July.

"The company has decided not to proceed with the proposed rights cum warrants issue pursuant to the results of the EGM as disclosed," Singapore eDevelopment said in a statement to the SGX.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!