OKH raised $39.5m from placement of 60m new shares

To be used for business expansion.

In a release, OKH Global Ltd. announced that its recent share placement of 60 million new shares has been completed successfully with strong demand from prominent investors.

With net proceeds of approximately S$39.5 million from the share placement of 60 million new shares, the Company intends to allocate and utilize the net proceeds for (i) up to 80% of the net proceeds to fund potential acquisitions, investments and business expansion plans in connection with the Group’s business, subject to suitable opportunities arising or being available for the same; and (ii) the balance of the net proceeds for the working capital requirements of the Group.

The Placement Shares will be listed and quoted on the Official List of the SGX-ST with effect from 9.00 a.m., 10
October 2013.

Following the issue of the placement shares, the total number of issued and paid-up ordinary shares of the Company will be increased to 628,657,445 ordinary shares.