"the issue price shall be calculated by dividing the mutually agreed valuation of Matex of S$50 million by the total number of issued shares of Matex immediately prior to completion of the Proposed Acquisition (Completion) including any shares that may be issued under the Mandate Placement(s), (defined below) if any, and adjusted for the Share Consolidation (defined below) (Issue Price), provided always that the requirements of the Listing Manual or the Catalist Rules, as the case may be, are complied with."
And yet I see from the link below that Matex has a value of $17M which is around 1/3 of the above valuation
