Singapore eDevelopment shareholders junk proposed rights and warrants issue

Over 96% of unitholders opposed the proposal.

Shareholders of Catalist-listed Singapore eDevelopment Limited have rejected its proposed rights cum warrants issue, the company revealed after an extraordinary general meeting (EGM) on Thursday.

The proposal was rejected by 96.16 per cent of the vote, or 54,032,950 of the 56,188,980 shares represented by votes.

The rights cum warrants issue had been proposed in July.

"The company has decided not to proceed with the proposed rights cum warrants issue pursuant to the results of the EGM as disclosed," Singapore eDevelopment said in a statement to the SGX.

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