CMON Limited — Share Issue/Capital Change 2023

Jun 19, 2023

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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CMON LIMITED

(Incorporated in the Cayman Islands with limited liability) (Stock Code: 1792)

CHANGE IN BOARD LOT SIZE

The Board announces that the board lot size of the Shares for trading on the Stock Exchange will be changed from 10,000 Shares to 70,000 Shares with effect from 9: 00 a.m. on Tuesday, 11 July 2023. The expected timetable for such change in board lot size is set out below. South China Securities Limited has been appointed as an agent to provide matching services on a best effect basis to those Shareholders who wish to top up or sell their holdings of odd lots of the Shares during the period from 9: 00 a.m. on Tuesday, 11 July 2023 to 4: 00 p.m. on Tuesday, 1 August 2023, both dates inclusive.

The board (the ‘‘Board’’) of directors (the ‘‘Directors’’) of CMON Limited (the ‘‘Company’’) announces that the board lot size of the ordinary shares of HK$0.00005 each in the share capital of the Company (the ‘‘Shares’’) for trading on The Stock Exchange of Hong Kong Limited (the ‘‘Stock Exchange’’) will be changed from 10,000 Shares to 70,000 Shares with effect from 9: 00 a.m. on Tuesday, 11 July 2023.

The Shares are currently traded in board lots of 10,000 Shares and the market value per board lot of the Shares was HK$400 (based on the closing price of HK$0.040 per Share as quoted on the Stock Exchange on the date of this announcement). The ‘‘Guide on Trading Arrangements for Selected Types of Corporate Actions’’ issued by Hong Kong Exchanges and Clearing Limited recommends that the value of each board lot shall be no less than HK$2,000, and accordingly the Board proposes to change the board lot size for trading of the Shares from 10,000 Shares to 70,000 Shares. Upon the change in board lot size becoming effective, the Shares will be traded in board lots of 70,000 Shares and the estimated market value per board lot of the Shares will be HK$2,800 (based on the closing price of HK$0.040 per Share as quoted on the Stock Exchange on the date of this announcement). The Board believes that the change in board lot size may save the transaction and registration costs incurred by the shareholders (the ‘‘Shareholders’’) and potential investors of the Company.

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The change in board lot size will not affect any of the relative rights of the Shareholders. The Board considers that the change in board lot size is in the interest of the Company and the Shareholders as a whole. As at the date of this announcement, the Company has no current plans for, or intention to conduct, any other corporate actions (such as share consolidation or sub-division or change in board lot size) in the next 12 months which may have an effect of undermining or negating the intended purpose of the change of board lot size of the Shares or to conduct any equity fund-raising activities in the next 12 months. However, the Company cannot rule out the possibility that it may conduct debt and/or equity fund-raising exercises if and when suitable opportunities arise in order to support future development of the Group, and will make announcements as and when appropriate.

EXPECTED TIMETABLE

The following sets out the expected timetable for the change in board lot size of the Shares. All times and dates refer are given as Hong Kong times and dates.

Event	Time and date
Last day for trading of the Shares in board lots of
10,000 Shares each in the original counter . . . . . . . . . . . . .	. Monday, 10 July 2023
Effective date of the change in board lot size from
10,000 Shares to 70,000 Shares . . . . . . . . . . . . . . . . . . . . .	. Tuesday, 11 July 2023
Original counter for trading in the Shares
in board lots of 10,000 Shares each closes and
becomes counter for trading in the Shares
in board lots of 70,000 Shares each . . . . . . . . . . . . . . . . . .	. . 9: 00 am on Tuesday,
	11 July 2023
Designated broker (see ‘‘Odd Lot Arrangement’’ below)
starts to stand in the market to provide matching
services for odd lots of Shares. . . . . . . . . . . . . . . . . . . . . .	. . 9: 00 am on Tuesday,
	11 July 2023
Designated broker ceases to stand in the market
to provide matching services
for odd lots of Shares . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . 4: 00 pm on Tuesday,
	1 August 2023

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SHARE CERTIFICATES

No new share certificate for existing Shares will be issued as a result of the change in board lot size of the Shares, and therefore there will be no arrangement for free exchange of existing share certificates in the board lot size of 10,000 Shares to new share certificates in the board lot size of 70,000 Shares. As from Tuesday, 11 July 2023, any new share certificates will be issued in board lots of 70,000 Shares each (except for odd lots or where the share registrar is otherwise instructed). All existing share certificates in board lots of 10,000 Shares each will continue to be good evidence of legal title to such Shares and continue to be valid for transfer, trading, delivery and settlement purposes. Save and except for the change in the number of Shares of each board lot, new share certificates will have the same format and colour as the existing certificates of the Shares.

ODD LOT ARRANGEMENT

In order to alleviate difficulties arising from the existence of odd lots of the Shares arising from the change in board lot size of the Shares, the Company has appointed South China Securities Limited as an agent to provide matching services on a best efforts basis to the Shareholders who wish to top up or sell their holdings of odd lots of the Shares during the period from 9: 00 a.m. on Tuesday, 11 July 2023 to 4: 00 p.m. to Tuesday, 1 August 2023, both dates inclusive. Holders of the Shares in odd lots represented by the existing share certificates for the Shares who wish to take advantage of this facility to either dispose of their odd lots of the Shares or top up their odd lots to a full new board lot may directly or through their brokers contact Mr. Ng Shun Kong of South China Securities Limited at 28/F., Bank of China Tower, No. 1 Garden Road, Central, Hong Kong (telephone number: (852) 3196 6275) during office hours (i.e. 9: 00 a.m. to 4: 00 p.m., Hong Kong time) within such period.

Holders of the Shares in odd lots should note that successful matching of the sale and purchase of odd lots of the Shares is not guaranteed. Shareholders are recommended to consult their professional advisors if they are in doubt about the above arrangement.

Shareholders and potential investors of the Company should exercise caution when dealing in the securities of the Company.

By Order of the Board

CMON Limited

Ng Chern Ann

Chairman, Joint Chief Executive Officer and Executive Director

Singapore, 19 June 2023

As at the date of this announcement, the executive Directors are Mr. Ng Chern Ann, Mr. David Doust, Mr. David Preti and Mr. Koh Zheng Kai; the non-executive Director is Mr. Frederick Chua Oon Kian; and the independent non-executive Directors are Mr. Wong Yu Shan Eugene, Mr. Choy Man and Mr. Leung Yuk Hung Paul.

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