NGSC LIMITED
Company Registration No.196400100R
ESCROW ACCOUNT
Unless otherwise defined, all capitalized terms used herein shall bear the meanings as ascribed to them in the circular of NGSC Limited ("Company") dated 3 November 2021 ("Circular").
The Board of Directors of the Company refer to paragraph 2.6 of the Circular relating to Escrow Arrangement and wishes to update shareholders of the Company that the Company had opened an escrow account ("Escrow Account") with DBS Bank Ltd. and had, on 10 December 2021, deposited S$12.05 million representing approximately 90% of its cash (including existing cash balance and the consideration arising from any disposals) as at 31 May 2021 of S$13.4 million, into the Escrow Account.
By Order of the Board
NGSC Limited
Michael Kuan-Chi Sun
Executive Director
10 December 2021
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Next-Generation Satellite Communications Limited published this content on 10 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 December 2021 14:41:06 UTC.