General Announcement for PLC

24/05/2021

OTHERS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR "COMPANY") EXTENSION OF TIME FOR THE UTILISATION OF PROCEEDS RAISED FROM THE INITIAL PUBLIC OFFERING ("IPO")

POWERWELL HOLDINGS BERHAD

Type Announcement
Subject OTHERS
Description 
POWERWELL HOLDINGS BERHAD ("POWERWELL" OR "COMPANY")
EXTENSION OF TIME FOR THE UTILISATION OF PROCEEDS RAISED FROM THE INITIAL PUBLIC OFFERING ("IPO")

Reference is made to the utilisation of proceeds raised from the IPO as disclosed in the Company’s prospectus dated 2 January 2020 that was issued in conjunction with the listing of and the quotation for its entire share capital on the ACE Market of Bursa Malaysia Securities Berhad on 22 January 2020. The Company had raised total gross proceeds of RM21.85 million from its IPO (“IPO Proceeds”).

 

The Board of Directors of Powerwell wishes to inform that it has approved the extension of time for the utilisation of the remaining unutilised IPO Proceeds earmarked for capital expenditure and certification expenditure up to thirty six (36) months from the date of listing of Powerwell.

 

Please refer to the attachment for the details of the announcement.

 

This announcement is dated 24 May 2021.


Please refer attachment below.


Announcement Info

Company Name POWERWELL HOLDINGS BERHAD
Stock Name PWRWELL
Date Announced 24 May 2021
Category General Announcement for PLC
Reference Number GA1-24052021-00130


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