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10 July 2020 INVITATION MEMORANDUM ISSUED BY PISON INVESTMENTS PTE LTD AND CONFIRMATION OF BLOCKED FUNDS AMOUNTING TO S$200,000,000.00
https://links.sgx.com/1.0.0/corporate-an...7960424f76

The purchase price for any Offered Debt purchased will be determined pursuant to a reverse dutch auction, under which the offer setting out the highest Offered Discount will generally be accepted first, followed by the offer setting out the next highest Offered Discount and so on, subject to the Minimum Offered Discount of 91%, until the available Settlement Funds have been used up. If there is more than one Eligible Creditor who has each tendered a bid at the same Offered Discount and not all of such bids can be purchased using all of the remaining available Settlement Funds, the Investor reserves the right to determine which Offered Bid to accept in its absolute discretion, and such determination may be based on pro rata acceptance by lot, by time of submission of bid and/or by some other criteria, or by a combination of any of the above, where circumstances permit and subject to enforceability under all applicable laws. For the avoidance of doubt, the Investor retains the right in any event to choose not to accept any of the offers tendered by the Eligible Creditors. 

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