This statement is to inform the investor that there are risks involved in placing an investment in a company that has provided information about such investment on this platform (“Issuer”) operated by Penny Pte Ltd (“Platform”). Should you choose to place such investment through the Platform, you will have done this of your own volition and without relying on any information on this Platform, other than the information provided by the Issuer. If you are unsure about any aspect of the information provided by the Issuer, you should seek advice from an independent financial advisor, legal counsel or similar professional before using this Platform and investing in the Issuer.

You should carefully consider whether this investment is suitable for you in light of your knowledge and experience in financial and business matters, investment objectives, financial means and the risks that you are prepared to take.

The following list of risk factors is not intended to be exhaustive, nor a comprehensive explanation of the risks involved.

100% loss on such investments

There is a high risk that you may lose all your money on such investments. Investments available through this platform/facility may include the shares or debt securities of early-stage companies or companies without a proven track record. The risk of business failure is high. For every 10 new businesses formed in Singapore, 7 to 8 would cease operations in the same year*. There is therefore a high risk that you may lose 100% of your investment. If an Issuer you invest in fails, neither the company nor the Platform will pay back your investment.

Risks of equities investments

You should note that an investment in an Issuer is subject to market conditions and there can be no assurance that any appreciation in value will occur. The value of investments and the income from them can fluctuate and may fall and there is no certainty that an investor will get back any part of his investment. Any investment made in an Issuer should be viewed as a long term and illiquid investment.

Your interests are unsecured and ranked subordinate to the interests of all creditors. In the event that a company becomes unable to meet its debts as they fall due, you may realize less than your original investment.

The price which you may realize for your investments and the timing of any such realization may be influenced by a large number of factors, some of which are specific to the investment and others of which are extraneous. Your ability to sell shares will depend on there being a willing buyer for such shares at an acceptable price. Shares in Issuers are not and will not be listed on a recognised market in the short to medium term and a secondary market in such shares is not expected to develop in the short term. Consequently, it may be difficult or even impossible for you to cash in on or exit such investments.

In addition, you may not receive a dividend. In addition, if the shares are unpaid or partly paid, you will still be liable to pay the remaining amount to the company.

Risks of debt securities

All debt instruments, including bonds are potentially exposed to risks, in particular to credit and interest rate risk. Debt securities may be subject to the risk of the Issuer’s inability to meet principal and interest payments on the obligation and may be subject to price volatility due to such factors as interest rate sensitivity, market perception of the creditworthiness of the Issuer, general market liquidity and other economic factors.

Online platform/facility failure

If the online platform/facility handles your money, you may also lose all your money in this investment if the online platform/facility fails and becomes insolvent.

Risks of investing in foreign issuers

If such investments are offered by an issuer in a foreign jurisdiction, your investment will be subject to the laws and regulations of that jurisdiction. You may also be subject to additional tax liabilities, transaction costs and capital controls.

No disclosure requirements

You may not have sufficient information to make fully informed investment decisions. There is no statutory obligation for issuers or intermediaries to provide you with information that you would reasonably require to make informed assessments of offers being made to you.

No assurance that financial statements from the companies that you invest in will be accurate or accessible

The financial statements of the companies which you invest in may not be subject to a statutory audit. As such, the financial information presented to you may not have been ascertained by a qualified professional auditor. An unaudited financial statement may not accurately reflect the financial health of a company. In addition, the financial statements of the companies may not be made accessible to you in the absence of requirements in their home country for them to do so.

Dilution for Equities Securities

Any (direct or indirect) investment you make in an Issuer on the Platform is likely to be subject to dilution. This means that if the Issuer raises additional capital at a later date, it will issue new shares in the Issuer to the new or existing investors, and the percentage of the shares of the Issuer that you (directly or indirectly) own may decline even if your (direct or indirect) absolute number of shares in the Issuer remains the same.

The new shares may also have certain preferential rights to dividends, sale proceeds and other matters, and the exercise of these rights may work to your disadvantage. Your investment may also be subject to dilution as a result of the grant of options (or similar rights to acquire shares) to employees of, service providers to, or certain other parties connected with, the Issuer.

Lack of Operating History

Some Issuers are recently formed entities and have no substantive operating history upon which prospective investors can evaluate likely performance.

Dependence on the Directors

The success of many Issuers will depend in part upon the ability of their directors/promoters to develop and maintain a strategy that achieves the company’s investment objectives.

Past performance and Forecasts

Past performance is not a reliable indicator of future performance. You should not rely on any past performance as a guarantee of future investment performance. Forecasts may also not be a reliable indicator of future performance.

Non-Advisory Nature of Relationship

None of the information presented by the Issuer and/or the Platform is intended to form the basis for any offer or recommendation, or have any regard to the investment objectives, financial situation or needs of any specific person. No reliance may be placed for any purpose on the information provided or the accuracy or completeness thereof and no responsibility can be accepted by the Platform to anyone for any action taken on the basis of such information. Such information should not be assumed to be specifically suitable for reliance by you without you first verifying the same with your independent advisers on your specific suitability for your specific financial needs and objectives.

Disclaimer - By accessing this website, you agree to be bound by our Terms of Use and Privacy Policy. This website has been prepared by Penny solely for information only. The delivery and contents of this website do not constitute a recommendation, offer or solicitation to enter into any contract or agreement to provide any investment services, or to apply for, or buy any securities, to effect or conclude any transaction of any kind whatsoever in any jurisdiction to any person to whom it is unlawful to make such an invitation or solicitation in such jurisdiction. Penny and its associates shall not be liable for any loss whatsoever arising from any use of the information in this website. Investing in unlisted businesses or new ventures or projects is high risk / high return investment strategy and carries significant risks including illiquidity, loss of capital, rarity of dividends and dilution. It should only form part of a balanced investment portfolio and is targeted at investors who are sufficiently sophisticated to understand the risks involved and are capable of making their own investment decisions. Penny reserves all copyright on this website and its contents may not be reproduced or redistributed to any other person | © 2019 Penny

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