• Placement of 33.3 million Placement Shares at S$0.12 each has been fully taken up

• Raised gross proceeds of S$4.0 million primarily for the Group’s general working capital purposes and a portion may also be used to improve its capital structure

• Prominent investors such as Lion Global Investors Limited (as investment manager for and on behalf of its clients) and Asdew Acquisitions are among the placees for the Placement

SGX-Catalist listed Sanli Environmental Limited (“Sanli”, the “Company”, “三立环境有限公司” and together with its subsidiaries, the “Group”), is pleased to announce that the Company has successfully completed the placement of 33.3 million Placement Shares at S$0.12 each, raising gross proceeds of S$4.0 million.

The gross proceeds will be used primarily for general working capital purposes, including funding the execution of ongoing Engineering, Procurement and Construction (“EPC”) projects, and a portion of the proceeds may also be used to improve its capital structure and strengthen its balance sheet via the reduction of existing borrowings.

The Placement Shares represent approximately 12.58% of the existing issued and paid-up share capital of the Company (excluding treasury shares) comprising 265,067,113 Shares as at the date of the placement agreement.

SAC Capital Private Limited is the placement agent for this placement.

Commenting on the placement, Mr. Sim Hock Heng (“沈福兴”), Chief Executive Officer and Executive Director of Sanli, said: “This is our first share placement exercise since our listing in 2017, hence it represents a meaningful milestone for the Group and we are heartened by the strong vote of confidence from investors in our business model and growth potential.

The proceeds from this placement will strengthen our financial flexibility, reinforcing our ability to act decisively on growth opportunities as we advance towards our vision of becoming a leading force in Asia’s environmental industry.