Reference is made to the announcement on 22 August 2014 in relation to
the Proposals (Announcement). For consistency, the abbreviations used
throughout this announcement are the same as those previously defined in the
Announcement.
On behalf of the Board, HLIB wishes to announce that, as of to-date, the
Company has raised gross proceeds of approximately RM43.395 million (Gross Placement Proceeds) via the
placement of 263,000,000 Placement Shares under the Proposed Placement exercise
comprising:
(i) 233,000,000 Placement
Shares that were placed out at RM0.165 per Placement Share and were listed on
19 December 2014; and
(ii) 30,000,000 Placement
Shares that were placed out at RM0.165 per Placement Share and were listed on
31 December 2014.
The Board had on 10 February 2015 approved the revision of part of the
utilisation of proceeds from the Proposed Placement amounting to RM28.395
million or 65.43% of the Gross Placement Proceeds in the following manner:
|
|
Original utilisation
|
Revised utilisation
|
|
Note
|
Amount
|
Amount
|
|
|
RM000
|
RM000
|
To
part finance SD1 Cash Consideration, SD2 Total Cash Consideration, SD1 Stores
and Spares and SD2 Stores and Spares | | 43,395 | 15,000 |
Working
capital (including the estimated expenses for the Proposals)
|
1
|
-
|
28,395
|
Total
|
|
43,395
|
43,395
|
Note:
1. DMB
intends to use part of the proceeds raised from the Proposed Placement for
general working capital purposes of DMB Group, including but not limited to
payment of trade and other payables, management, employees and marketing
expenses and other day-to-day expenses. The breakdown of proceeds to be
utilised for each component of working capital has not been determined at this
juncture. Moreover, the actual amount to
be utilised by each component of working capital may differ subject to the
operating requirements at the time of utilisation.
The Company intends to finance the shortfall in the Proposed
Acquisitions either via bank borrowings and/or internally-generated funds of
the DMB Group and/or other forms of financing.
This announcement is dated 10 February 2015.