Rex International Holding Limited 245 NOTES TO THE FINANCIAL STATEMENTS 37 EVENTS AFTER THE REPORTING PERIOD On 13 January 2026, Lime Petroleum AS, a subsidiary of the Group, was offered a 25% participating interest in a new offshore licence (PL1279) in the 2025 Awards in Predefined Areas Round in Norway. On 26 January 2026, the Company entered into placement agreements for the issuance of 40,082,930 new ordinary shares and the placement of 13,187,000 treasury shares. In connection with the placement, the Company granted 53,269,930 free, detachable, unlisted and non-transferable warrants, each entitling the holder to subscribe for one new ordinary share. On 5 February 2026, the Company completed the placement of 13,187,000 treasury shares at an issue price of S$0.143 per share. On 13 March 2026, the Company completed the placement of 40,082,930 new ordinary shares at an issue price of S$0.143 per share. Following the completion of these placements, the total number of shares in the capital of the Company increased to 1,355,590,921 shares, and the issued and paid-up share capital of the Company increased to S$113.76 million. On 28 January 2026, the Group completed the reverse takeover transaction involving the listing of Xer Tech AB, the Company’s indirect subsidiary, on the Spotlight Stock Market in Sweden. Post-completion, Xer Tech AB became wholly-owned by Xer Tech Holding AB (formerly known as Renewable Ventures Nordic AB), in which the Group holds an approximately 50.4% shareholding interest in Xer Tech Holding AB. On 16 February 2026, LPH announced the successful achievement of first oil from the AK-2H well in the Sèmè Field Block 1 in Benin and production from the well has commenced in early March 2026. However, significant technical complications during drilling operations resulted in a material increase in drilling costs and a production delay of more than three months, materially affecting LPH’s financial position (Note 1.1). Subsequent to the end of the reporting period, geopolitical tensions in the Middle East have escalated, contributing to increased macroeconomic uncertainty and heightened volatility in global oil and gas markets. These developments include potential disruptions to regional production activities, elevated risks to key shipping routes, and increased geopolitical risk premiums, which have collectively contributed to higher crude oil and natural gas prices and greater uncertainty across global supply chains. Management continues to closely monitor the evolving situation and assess its potential impact on the Group’s operations and financial position. Based on the information currently available, there has been no disruption to the Group’s operations, including production activities in Oman, which continue to operate as normal. The Company’s management continues to monitor the operations of the Company in this uncertain environment and takes necessary steps, where possible, to mitigate any negative effects.
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