SHEN YAO HOLDINGS LIMITED

(Company Registration No. 202042117W)

(Registered in Singapore)

PROPOSED PURCHASE OF UP TO 3,550,000 ORDINARY SHARES IN THE CAPITAL OF REAL ESTATE ANALYTICS PTE. LTD. - LAPSE OF AGREEMENTS

Unless otherwise defined herein, all capitalised terms used in this announcement shall have the same meaning as defined in the announcements of Shen Yao Holdings Limited (the "Company") dated 29 March 2021, 5 April 2021 and 19 July 2021 ("Previous Announcements").

The Board wishes to announce that, as at 30 September 2021, being the cut-off date for the First Closing ("Long Stop Date"), certain conditions precedent have not been satisfied, in particular the requirement for the Company to commission a valuation report on REA. Accordingly, the Agreements have lapsed on the Long Stop Date.

The Board considers that the lapsing of the Agreements will not have any material adverse impact on the business operations and financial position of the Group.

Shareholders are advised to exercise caution in trading their Shares. Shareholders should consult their stockbrokers, bank managers, solicitors, accountants or other professional advisors (as appropriate) if they have any doubt about the actions they should take.

BY ORDER OF THE BOARD

Yao Liang

Executive Director

1 October 2021

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, W Capital Markets Pte. Ltd. (the "Sponsor").

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST 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 Chia Beng Kwan, Registered Professional, W Capital Markets Pte Ltd, 65 Chulia Street, #43-01 OCBC Centre, Singapore 049513, Telephone (65) 65133541.

1

Attachments

  • Original document
  • Permalink

Disclaimer

Shen Yao Holdings Ltd. published this content on 01 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 October 2021 11:41:09 UTC.