Kelly who intends to issue shares must submit a "proposal document". We have obtained monetary authority of singapore's exemption from the relevant articles of association of the Securities and Futures Law, so Kelly's securities proposal will not require a prospectus. However, the prospectus and related clauses will be disclosed in the same way as the prospectus document, because the relevant civil and criminal liability provisions of the State Forestry Administration still apply to this document.

The requirements put forward by monetary authority of singapore and its registered prospectus are no longer applicable here. On the contrary, the proposal document and quotation information statement (securities provided by listed companies after the initial public offering) will be published on the Catalodge website of Singapore Stock Exchange for at least 14 days. This will provide a channel for the public to announce any important issues they may be concerned about, and play an additional safeguard role.