Pursuant to the Placement Agreement, the Company proposes to issue up to 100,000,000 New Shares
and (in the event the Upsize Option is exercised in full) up to 20,000,000 Additional New Shares (together
with the New Shares, the "Placement Shares") for purposes of a private placement at an indicative issue
price of S$0.215 per Placement Share (to be finalised) ("Issue Price") in Singapore pursuant to Section
272B of the Securities and Futures Act (Cap. 289) of Singapore and a placement outside Singapore to
institutional investors.