CONVERSION OF SERVICEABLE DEBT

The Board of Directors (?

An aggregate of 1,150,362,207 new shares (?Board?) of Advance SCT Limited (the ?Company?, and together with its subsidiaries, the ?Group?) refers to the Company?s announcements of 1 March 2013, 15 March 2013, 8 April 2013 and 30 August 2013, in relation to the grant of Conversion Rights for the Serviceable Loan. Following the shareholders? approval obtained on 30 August 2013, some Eligible Creditors had submitted conversion notices in the past one week to capitalise an aggregate of approximately S$10.2 million of the outstanding Serviceable Loan (the ?Conversion?) and the interest accrued therein. The balance of Serviceable Loan outstanding after the Conversion is $23,421,329.68.Conversion Shares?) will be issued and allotted pursuant to the Conversion. The Conversion Shares represent 34.7% of the existing issued share capital of the Company and approximately 25.7% of the enlarged issued share capital of the Company. The Conversion Shares rank pari passu in all respects of the existing issued ordinary shares of the Company and are expected to be listed and quoted on the Singapore Exchange  Securities Trading Limited on or around 17 September 2013. The total number of ordinary shares of the Company will be increased from 3,319,876,234 to 4,470,238,441.

Financial Effects of the Conversion

NTA

The Conversion would have improved the NTA per Share of the Company from (2.42) Singapore cents to (0.36) Singapore cents, an improvement of approximately 2.06 Singapore cents per Share of the Company as illustrated below:

For illustration purposes only, the following is an analysis of the effects of the Conversion on the NTA per Share:

Before the Conversion as at 31 December 2012

NTA (S$?000) (28,457)

Number of Shares 1,174,571,731

NTA per Share (in cents) (1) (2.42)

Immediately before the Conversion

NTA (S$?000)

Number of Shares

NTA per Share (in cents) (0.80)(2) (26,457)(3) 3,319,876,234

Immediately after the Conversion

NTA (S$?000) (26,457)

Add: Net Proceeds from the Conversion (S$?000) 10,226

Adjusted NTA (S$?000) (16,231)

Number of Shares

NTA per Share (in cents) (4) 4,470,238,441(5) (0.36)

EPS

The Conversion would have improved the EPS of the Company from (0.84) Singapore cents to (0.63) Singapore cents, an improvement of approximately 0.21 Singapore cents per Share of the Company as illustrated below:

Before the Conversion  / After the Conversion

EPS of the Company (Singapore cents)(1) (0.84) (0.63)