(Unless otherwise defined, defined terms used in this announcement shall carry the same meanings as defined in the announcement dated 23 August 2013 in relation to the Proposed Private Placement)
We refer to the announcement dated 23 August 2013 in relation to the Proposed Private Placement.
Bank Islam Malaysia Berhad, on behalf of PESTECH, wishes to announce the breakdown of utilisation of proceeds expected to be raised from the Proposed Private Placement based on an indicative issue price of RM2.25 per Placement Share and the issuance of up to 9,876,200 PESTECH Shares as follows:-
Details of utilization | Gross proceeds (RM000) |
Minimum Scenario | Maximum Scenario |
| | |
Working capital:- | | |
· Capacity expansion plans | 16,123 | 18,521 |
· Day-to-day operations which may include staff salaries, marketing expenses, purchases of general office supplies and sundry, and other operational activities such as quality assurance and interest expenses | 3,000 | 3,500 |
| | |
Estimated expenses in relation to the Proposed Private Placement | 200 | 200 |
|
|
|
Total | 19,323 | 22,221 |
This announcement is dated 28 August 2013.