Ann: SGD $30M SALE OF INTEREST IN TCM PROJECT, page-9

You'd think common sense will prevail eventually. The company need cash.

Why would another company offer SGD$30m for project interest which is over 1000% premium equivalent around 8c, why not takeover the company trading at 0.7c?

The company have no cash.

The company have previously announced a $2m rights issue and $5m convertible note issue at 0.7c subject to meeting.

There is 22m 7.1A capacity that can be used for immediate cashflow needs.

Could the investment fund recently in for 54m at 0.5c be selling.

Is it a set up for the investment fund or noteholder or to assist general funding?

Even if listing is successful which I doubt very much, there's possibility of escrow and any heavy selling by PZC would likely push the new company share price down.

Holding should read "not held"