Link: https://links.sgx.com/1.0.0/corporate-announcements/VKPJW11LLP4XRO80/19794e9734ce24d0a24a204b24b8dd70dc0130562d0bf233ccf57295ad336431

Summary:

• Union Steel Holdings Limited sold 30 million shares in Eneco Energy for S$345,000 via a married deal to CK Chu Investment, representing about 1.20% of Eneco’s issued share capital.

• After this sale, Union Steel still holds 521 million shares (20.90% stake) and 500 million warrants in Eneco, each exercisable at S$0.009 per share until August 31, 2025.

• The sale was priced at S$0.0115 per share, slightly above the 5-day VWAP of S$0.0099, and will result in an accounting loss of approximately S$8,000 due to a higher weighted average cost after earlier warrant exercises.

• The transaction allows Union Steel to monetise part of its Eneco stake for S$343,000 net proceeds to redeploy into other opportunities.

• Even combined with an earlier sale of 40 million shares on 1 July 2025, the aggregated relative figures under SGX Rule 1006 remain below 5%, classifying the sales as non-discloseable transactions.

• The disposal has minimal financial impact: NTA per share drops marginally from 67.95 cents pre-disposals to 67.93 cents, with EPS unchanged at 10.78 cents.

• No directors or controlling shareholders have any interest in the transaction.