mm2 Asia Placement Agreement Lapses and Terminates

NewTimeSpace News: On April 1, 2026, mm2 Asia released an announcement providing an update on its proposed placement of new ordinary shares. The company had previously announced on July 4, September 3 and October 3, 2025 that it planned to issue up to 1.875 billion new ordinary shares through placement agent UOB Kay Hian.

According to the announcement, the conditions precedent under the placement agreement were not satisfied by the extended cut-off date of March 31, 2026. Pursuant to the terms of the agreement, the placement agreement has automatically lapsed and terminated with no further legal effect.

mm2 Asia stated that the lapse and termination of the placement agreement is not expected to have a material adverse impact on the consolidated net tangible assets per share and earnings per share of the company and the group for the financial year ending March 31, 2027.

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