Singapore: CNP’s Notable Deals: Colin Ng & Partners LLP acts for Equation Corp Limited
Last Updated: 19 September 2012

Colin Ng & Partners LLP acts for Equation Corp Limited

Colin Ng & Partners LLP (CNP) acted for Catalistlisted Equation Corp Limited ("Equation") in a rights issue of 1,237,846,424 rights shares ("Rights Shares") at an issue price of S$0.012 for each Rights Share, on the basis of one Rights Share for every two existing ordinary shares in the capital of Equation, completed on 25 July 2012 ("Rights Issue").

Equation is an investment holding company of a group whose core businesses include the provision of electronic waste recycling services, energy auditing management and professional engineering consultancy services, sales and distribution of audio, video and other consumer electronic products, the supply and trading of construction materials, the ownership and management of vessels, and DiSa, a patented end-to-end security system.

The Rights Issue was oversubscribed and, at the close of the Rights Issue on 17 July 2012, valid acceptances and excess applications for a total of 1,525,291,024 Rights Shares were received, representing approximately 123.22% of the total number of 1,237,846,424 Rights Shares that were available for subscription under the Rights Issue. Net proceeds of about S$14.6 million were raised by Equation from the Rights Issue.

CNP Partner Gregory Chan led the legal team on the transaction, assisted by Foreign Associate Stephen Walton.

This update is provided to you for general information and should not be relied upon as legal advice.

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