POLLUX PROPERTIES LTD. — Capital/Financing Update 2025

Jul 14, 2025

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POLLUX PROPERTIES LTD.

(Company Registration Number: 199904729G)

PROPOSED DISPOSAL OF A PROPERTY UNIT

1. INTRODUCTION

The Board of Directors (the “ Board ” or “ Directors ”) of Pollux Properties Ltd. (the “ Company ” and together with its subsidiaries, the “ Group ”) wishes to announce that on 3 July 2025, the wholly-owned subsidiary of the Group, Symbianta Worldwide Inc. (“ Symbianta ”), granted an option to purchase (the “ OTP ”) for the sale of its investment property at 57B Devonshire Road #03-06 Singapore 239899 (the “ Property ”) at a cash consideration of S$3,700,000 (the “ Consideration ”), based on the terms and conditions set out in the OTP (the “ Proposed Disposal ”). As at the date of this announcement, the OTP has not yet been exercised by the purchaser (the “ Purchaser ”).

2. INFORMATION RELATING TO PROPERTY

The Property is a freehold property with a gross floor area of 137 square meters.

Based on the Group’s audited financial statements for the financial year ended 31 December 2024 (“ FY2024 ”), the book value and net tangible asset value of the Property was S$3,660,000 as at 31 December 2024 (the “ Book Value ”) and the net loss before tax attributable to the Property was S$27,848 for FY2024. The Consideration is in excess over the Book Value, and the Proposed Disposal will result in a gain on disposal of S$40,000.

3. INFORMATION ON THE PURCHASER

The Purchaser is an unrelated third-party individual and does not have any shareholding interest, direct or indirect in the Company or the Group, nor is the Purchaser related to any of the Directors, substantial shareholders of the Company, or their respective associates.

4. SALIENT TERMS OF THE OTP

The Consideration of S$3,700,000 was arrived at on a willing-buyer and willing-seller basis after arm’s length negotiations and taking into account the Book Value.

The Company has received a deposit of S$37,000 from the Purchaser (the “ Option Money ”) on the date of granting the OTP. The OTP shall expire at 4:00 p.m. on 17 July 2025 (the “ Expiry Date ”) and will be null and void if not exercised on or before the Expiry Date, following which the Option Money will be forfeited by Symbianta.

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The sale and purchase is to be completed and the balance of the Consideration shall be paid on 11 September 2025 or such earlier date as Symbianta and Purchaser may agree.

5. RATIONALE FOR THE PROPOSED DISPOSAL AND USE OF PROCEEDS

In view that the Property has recorded a net loss and the Proposed Disposal would result in a gain on disposal, the Company believes that the Proposed Disposal is in the best interests of the Group as the Proposed Disposal will enable the Group to realise the value of the Property and to unlock its investment in property as well as to strengthen the cash position of the Group.

The Group will use the net proceeds from the Proposed Disposal for repayment of the Company’s borrowings and general working capital purposes of the Group.

6. RELATIVE FIGURES COMPUTED BASED ON RULE 1006 OF THE CATALIST RULES

Rule	Basis	Relative Figure
1006 (a)	The net asset value of the assets to be disposed of, compared with the group’s net asset value. This basis is not applicable to an acquisition of assets.	1.76%(1)
1006 (b)	The net profits attributable to the assets acquired or disposed of, compared with the Group’s net loss.	(3.03)%(2)
1006 (c)	The aggregate value of the consideration given or received, compared with the issuer’s market capitalisation, based on the total number of issued shares excluding treasury shares.	6.38%(3)
1006 (d)	The number of equity securities issued by the issuer as consideration for an acquisition, compared with the number of equity securities previously in issue.	Not applicable(4)
1006(e)	The aggregate volume or amount of proved and probable reserves to be disposed of, compared with the aggregate of the Group’s proved and probable reserves. This basis is applicable to a disposal of mineral, oil or gas assets by a mineral, oil or gas company, but not to an acquisition of such assets. If the reserves are not directly comparable, the SGX-ST may permit valuations to be used instead of volume or amount.	Not applicable(5)

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Notes:

• (1) Based on the Book Value of the Property and the net asset value of the Group as at 31 December 2024.

• (2) Based on the loss before tax generated from the Property of S$27,848 and the profit before tax of the Group of S$919,449 for FY2024.

• (3) The Company’s market capitalisation was calculated by multiplying 2,759,468,325 issued shares in the capital of the Company by S$0.021, being the volume weighted average price of the Company’s shares transacted on 30 June 2025, being the full market day immediately preceding the date of the OTP, on which there was trading in the Company’s shares.

• (4) Not applicable as this is a disposal.

• (5) The Company is not a mineral, oil and gas company.

Pursuant to Catalist Rule 1007(1), if any of the relative figures computed pursuant to Catalist Rule 1006 involves a negative figure, Chapter 10 of the Catalist Rules may still be applicable to the transaction in accordance with the applicable circumstances in Practice Note 10A. Having considered paragraph 4.4(e) of Practice Note 10A, the absolute relative figures computed on the basis of each of Rule 1006(a) and Rule 1006(c) does not exceed 50% and there will be no loss on disposal incurred, the Proposed Disposal constitutes a “discloseable transaction” under Chapter 10 of the Catalist Rules.

7. ILLUSTRATIVE FINANCIAL EFFECTS OF THE PROPOSED DISPOSAL

The financial effects of the Proposed Disposal on the Group are prepared based on the Group’s audited consolidated financial statements for FY2024. For the purpose of computing the earnings per share (“ EPS ”) of the Group after the Proposed Disposal, it is assumed that the Proposed Disposal had been completed on 1 January 2024. For the purpose of computing the net tangible assets (“ NTA ”) per share of the Group, it is assumed that the Proposed Disposal was completed on 31 December 2024.

It should be noted that the financial effects set out below are for illustrative purposes only and do not purport to be indicative or a projection of the results and financial position of the Company and the Group after the completion of the Proposed Disposal.

7.1 NTA

	Before the Proposed Disposal	After the Proposed Disposal
NTA (S$)	208,304,966	208,283,546*
Number of issued shares of the Company (excluding treasury shares)	2,759,468,325	2,759,468,325
NTA per share (Singapore Cents)	7.55	7.55

POLLUX PROPERTIES LTD.

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7.2 EPS

	Before the Proposed Disposal	After the Proposed Disposal
Net profit attributable to shareholders (S$)	397,330	403,758.02*
Weighted average number of issued shares of the Company (excluding treasury shares)	2,759,468,325	2,759,468,325
Earnings per share (Singapore Cents)	0.01	0.01

*The amount excludes stamp duties for the Proposed Disposal (if any).

8. INTERESTS OF DIRECTORS AND CONTROLLING SHAREHOLDERS

None of the Directors or controlling shareholders of the Company has any interest, direct or indirect, in the Proposed Disposal, other than through their respective shareholdings (if any) in the Company.

9. SERVICE CONTRACT

No person will be appointed to the Board, and no service contract will be entered into by the Company, in connection with the Proposed Disposal.

10. DOCUMENT FOR INSPECTION

A copy of the OTP is available for inspection during normal business hours at the registered office of the Company at 40A Orchard Road, #M_02 Macdonald House, Singapore 238838 for a period of three (3) months from the date of this announcement.

By order of the Board

Nico Purnomo Po Executive Director and Chief Executive Officer 14 July 2025

This announcement has been reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd. (the “ Sponsor ”). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “ Exchange ”) and the Exchange assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr. Pong Chen Yih, Chief Operating Officer, at 7 Temasek Boulevard, #04-02 Suntec Tower 1, Singapore 038987, telephone (65) 6950 2188.