CPH LTD.

(Co. Reg. No. 199804583E)

(Incorporated in the Republic of Singapore)

CONDITIONAL SALE AND PURCHASE AGREEMENT IN RESPECT OF THE PROPOSED ACQUISITION OF 100% OF THE ISSUED SHARE CAPITAL OF SHANAYA ENVIRONMENTAL SERVICES PTE. LTD. (THE "PROPOSED ACQUISITION")

  • RECEIPT BY SHANAYA ENVIRONMENTAL SERVICES PTE. LTD. OF GENERAL WASTE COLLECTOR LICENCE (CLASS C)

Unless otherwise expressly defined herein, all capitalised terms and references have the same meaning as ascribed to them in the Company's circular dated 29 June 2021 (the "CIRCULAR") in relation to, inter alia, the Proposed Acquisition.

The Board refers to the various relevant announcements of the Company from 29 September 2020 to 29 June 2021, as well as the Circular, in relation to the Proposed Acquisition.

As disclosed in Section 11.4 entitled "Business Strategies and Future Plans" of the Circular (page 163), the Target Company has intentions to use the Tuas Facility for the treatment of toxic waste such as spent chemicals, oil sludge, oil waste mixtures and oily water, after the Target Company obtains inter alia the General Waste Collector Licence (Class C) and the licence issued under the EPH(TIW)R permitting so. In this regard, the Target Company had on 7 June 2021 applied to NEA to amend its existing General Waste Collector Licence to include Class C (in addition to Classes A and B).

The Board wishes to update Shareholders that the Company has been informed by the Target Company on 22 July 2021 that the Target Company's application to NEA to amend its existing General Waste Collector Licence to include Class C (in addition to Classes A and B) has been approved, and the date of expiry of the said licence is 9 October 2021 (as disclosed in Section 7.10 entitled "Permits, Approvals, Licence and Government Regulations" of the Circular (page 103)). The General Waste Collector License has been issued in accordance with and subject to the Environmental Public Health Act (Cap. 95), the Environmental Public Health (General Waste Collection) Regulations (Rg. 12) and the conditions of licence stated therein.

Save as disclosed above, there are no other updates in relation to the contents of the Circular as at the date of this announcement.

The Proposed 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 subject-matter of this announcement, and the Proposed 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 Proposed 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.

Shareholders and potential investors are advised to exercise caution in trading their shares as there is no certainty or assurance as at the date of this announcement that the Proposed Acquisition will be completed. The Company will make the necessary announcements when there are further developments on the Proposed Acquisition. Shareholders are advised to read this announcement and any further announcements by the Company carefully, and should consult their stockbrokers, bank managers, solicitors or other professional advisers if they have any doubt about the actions they should take.

BY ORDER OF THE BOARD

Ong Kian Soon

Director

23 July 2021

This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms. Jennifer Tan, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg.

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CPH Ltd. published this content on 23 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 July 2021 11:17:11 UTC.