Raffles Education Limited announced on Mar, 10 2026 that it has completed the conversion of outstanding amounts owed into equity.

Under the binding term sheets, the company issued and allotted 241,100,605 new ordinary shares to Mr. Chew, lifting its issued share capital from 1,539,506,798 to 1,780,607,403 shares.

The conversion shares rank pari passu with existing stock but will not participate in the special dividend declared on Feb, 27 2026. They are expected to begin trading on the Mainboard of the Singapore Exchange around Mar, 13 2026.