Biosensors : Financial Statements and Related Announcement :: Notification of Results Release

14aa273b-a5e1-414a-9545-37d03e8b2ecc.pdf B I O S E N S O R S I N T E R N A T I O N A L G R O U P , L T D .

(Incorporated in Bermuda with limited liability) (Company Registration Number: 24983)

The Board of Directors (the "Board") of Biosensors International Group, Ltd. (the "Company") refers to the announcements (the "Announcements") issued by the Company on 29 October 2015, 12 November 2015, 7 December 2015, 28 December 2015, 14 January 2016 and 10 February 2016 on (i) the date of release of its financial results for the Second Quarter and First Half of the Financial Year Ending 31 March 2016 ("2Q 2016 Financial Results") and its financial results for the Third Quarter of the Financial Year Ending 31 March 2016 ("3Q 2016 Financial Results", and together with the 2Q 2016 Financial Results collectively, the "2Q and 3Q Financial Results"), and (ii) the application to the Singapore Exchange Securities Trading Limited (the "SGX-ST") to extend the deadline for announcing its 2Q 2016 and 3Q Financial Results. Capitalised terms not hereinafter defined shall have the respective meanings ascribed to them in the Announcements.

As stated earlier in the Announcement issued by the Company on 10 February 2016, the reasons for seeking the extensions of time under Rule 705(2) of the Listing Manual are as follows:

1. As stated in the Announcements, on 4 November 2015 (the "Joint Announcement Date"), the Company had announced the proposed Amalgamation, which is a takeover offer under the Singapore Code on Take-overs and Mergers (the "Code"). Pursuant to Rule 25.6(c) of the Code, any unaudited statements of interim results published by an offeree company during an offer period in cases where the board of the offeree company has not publicly recommended the offer is treated as a profit forecast and therefore, must be reported on by the auditor or reporting accountant and financial adviser in accordance with Rule 25 of the Code, unless this falls under an exemption under the Code. As such, during the offer period, either (i) the auditor or reporting accounting and financial adviser of the Company would have to report on the 2Q and 3Q Financial Results in accordance with the Code, or (ii) where the board of the offeree company has publicly recommended the offer, the auditor or reporting accounting and financial adviser of the Company would not need to report on the 2Q and 3Q Financial Results.

   
   

2. The Company wishes to release the 2Q and 3Q Financial Results no later than 19 February 2016 to enable it to make the necessary arrangements for the release of the 2Q and 3Q Financial Results in compliance with the Code.

   
   

3. The Company hereby confirms that the requested extension does not contravene any laws and regulations governing the Company and its Bye-laws, and that, save as set out in the 2Q and 3Q Financial Results, it is not aware of any information that will have a material bearing on the decisions of investors which has yet to be announced by the Company.

On 12 February 2016, the SGX-ST advised that based on the Company's submissions and representations to the SGX-ST, it has no objections to the Company's application for extension of time of 9 days from 10 February to 19 February 2016 for the Company to announce its 2Q and 3Q Financial Results, subject to the following:-

1. The Company announcing the period of extension granted, the reasons for seeking the extension of time and the conditions as required under Listing Rule 107;

2. Submission of a written confirmation from the Company that the extension of time does not contravene any laws and regulations governing the Company and the articles of association of the Company; and

   
   

3. Submission of a written confirmation from the Company that it is not aware of any information that will have material bearing on investors decisions which has yet to be announced by the Company.

The Company has submitted the requisite confirmations to the SGX-ST.

The Directors of the Company (including those who have delegated detailed supervision of this announcement) have taken all reasonable care to ensure that the facts stated in this announcement are fair and accurate and that no material facts have been omitted from this announcement, and they jointly and severally accept responsibility accordingly. Where any information has been extracted from published or otherwise publicly available sources, the sole responsibility of the Directors of the Company has been to ensure through reasonable enquiries that such information has been accurately and correctly extracted from such sources or, as the case may be, accurately reflected or reproduced in this announcement.

BY ORDER OF THE BOARD

Ronald H. Ede Company Secretary 14 February 2016