Far East Group Limited
(Company Registration No. 196400096C)
(Incorporated in the Republic of Singapore on 18 March 1964)
VARIATION OF THE SUBSCRIPTION AND SHAREHOLDERS AGREEMENT IN RESPECT
OF COMFRESH GROUP HOLDINGS PTY LTD
Unless otherwise specified, all capitalized terms shall have the same meaning ascribed in the announcements dated 23 July 2021 and 29 July 2021 in relation to the subscription and shareholders agreement ("SSHA") relating to the issue and allotment of shares in the capital of Comfresh to the Company (the "Announcements").
Further to the Announcements, the Board of Directors (the "Board") of Far East Group Limited (the "Company") wishes to announce that the Company has on 20 August 2021 entered into a supplemental letter agreement with Comfresh, TDL and Vorrasi to record parties' agreement in respect of the payment of an additional deposit of an amount of AUD$1,000,000 by the Company to Comfresh as additional part payment of the Subscription Price (the "Additional Deposit"). The Additional Deposit is subject to, inter alia, the same terms as the Deposit as listed in paragraph 3.6 of the Announcement dated 23 July 2021.
The Additional Deposit will be applied towards Comfresh's expansion of its farming facilities in South Australia in line with the Proposed Diversification, and is required for the purposes of locking in time-sensitive contract prices prior to the increase of the same.
The Company will make further announcement(s) to update shareholders as and when there are material developments with regard to the above matter.
By Order of the Board
Loh Mun Yew
Chief Executive Officer and Executive Director
20 August 2021
This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.
The contact person for the Sponsor is Ms Lee Khai Yinn (Tel: (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.
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