Raffles Education defends proposed bonds with warrants to refinance S$ 35 million debt

• Raffles Education defended its proposed bonds with warrants refinancing, aimed at preserving approximately S$ 35 million of liquidity.
• Independent directors recommended shareholders support the transaction despite the independent financial adviser's conclusion that it is not on normal commercial terms.
• Directors cited the extended repayment period and lack of a sufficiently certain financing alternative in supporting the proposal.
• Existing convertible bonds mature on September 22, 2027; delaying refinancing would increase uncertainty over funding availability and terms.
• Shareholders will vote on the proposal at an extraordinary general meeting on October 30, 2026.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Raffles Education Ltd. published the original content used to generate this news brief via Singapore Exchange Limited (SGX) (Ref. ID: TVSWSGJBI1ACO68W) on October 24, 2026, and is solely responsible for the information contained therein.