Albedo Limited (Catalist:5IB) announced a private placement of 260,000,000 warrants at SGD 0.001 per warrant for gross proceeds of SGD 260,000 on December 12, 2013. The company will issue 90,000,000 warrants to Dato' Choo Yeow Ming and 170,000,000 warrants to Terry Leong Woon Poh. Each warrant entitles the holder to acquire one common share at an exercise price of SGD 0.04338 per share for a period of 36 months from the date of issue. On exercise of the warrants, the shares will represent approximately 15.5% of the existing share capital of the company, representing 60,000,000 shares. The transaction is subject to approval from the shareholders of the company. The net proceeds from the transaction will be SGD 160,000.

On January 24, 2014, Albedo Limited closed the transaction.