Beng Kuang Marine says it has entered into a subscription and a call option agreement with investors Tan Chin Hock, Ang Poon Beng, Lee Wee Soon, Goh Yew Gee, Aw Yong Wee and Low Chui Heng by issuing them a total of 38 million subscription shares at 22.5 cents each to raise $8.55 million.

Beng Kuang has also granted them a call option to subscribe to up to 38 million option shares at 25 cents each within three years from the date of the signing of the option agreement, to raise an extra $9.5 million.

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