General Announcement::LETTER OF INTENT SIGNED FOR FUNDRAISING FOR TRANSCORP HOLDINGS LIMITED

The board of Directors (the Board ) of Transcorp Holdings Limited (the Company ) would like to announce that on 17 January 2020, the Company has signed a Letter of Intent ( LOI ) with Investors for fundraising for the Company. The Investors are not Interested Persons as defined under Chapter 9 of the Catalist Rulebook and do not fall under Rule 812(1) of the Catalist Rulebook. This LOI is legally non-binding in terms of fundraising execution but comes with a confidentiality clause for the Investors and exclusivity clause for the period of due diligence.

The total amount of funds, as indicated in the LOI, that could potentially be raised is approximately S$ 1 million The Board will continue to discuss and review the fundraising structure and terms of the placement or investment with the Investors. This fundraising exercise is subject to satisfactory due diligence by the Investors and the signing of a legally binding placement or investment agreement.

Shareholders are advised to exercise caution in trading their shares in the Company as there is no certainty or assurance that LOI will translate into a completed placement or investment agreement. The Company will make the necessary announcements as and when there are further developments. Shareholders should consult their stock brokers, bank managers, solicitors or other professional advisers if they have any doubt about the actions that they should take.

DIRECTORS RESPONSIBILITY STATEMENTS

The Directors collectively and individually accept full responsibility for the accuracy of the information given in this announcement and confirm after making all reasonable enquiries, that to the best of their knowledge and belief, this announcement constitutes full and true disclosure of all material facts about the LOI, the Company and its subsidiaries and the Directors are not aware of any facts the omission of which would make any statement in this announcement misleading. Where information in this announcement has been extracted from published or otherwise publicly available sources or obtained from a named source, the sole responsibility of the Directors has been to ensure that such information has been accurately and correctly extracted from those sources and/or reproduced in this announcement in its proper form and context.

BY ORDER OF THE BOARD

Chia Siak Yan Vincent
Non-Executive Acting Chairman and Independent Director

24 January 2020

This announcement has been prepared by the Company and its contents have been reviewed by the Company s sponsor ( Sponsor ), Asian Corporate Advisors Pte. Ltd., in accordance with Rules 226(2)(b) and 753(2) of the Singapore Exchange Securities Trading Limited ( Exchange ) Listing Manual Section B: Rules of Catalist for compliance with the relevant rules of the Exchange. The Company s Sponsor has not independently verified the contents of this announcement including the correctness of any of the figures used, statements or opinions made.

This announcement has not been examined or approved by 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. Liau H. K.
Telephone number: 6221 0271