General Announcement for PLC

04/08/2022

OTHERS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR "THE COMPANY") PROPOSED VARIATION AND EXTENSION OF TIMEFRAME OF THE UTILISATION OF PROCEEDS RAISED FROM THE INITIAL PUBLIC OFFERING ("IPO") OF POWERWELL

POWERWELL HOLDINGS BERHAD

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

The Board of Directors of Powerwell wishes to inform that the Company intends to seek the approval of its shareholders on the following at the forthcoming Extraordinary General Meeting of the Company:-

 

(i) to vary the utilisation of the balance unutilised IPO proceeds earmarked for capital expenditure to working capital; and

(ii) to extend the timeframe for the use of such proceeds to up to 48 months from the listing date of the COmpany.

 

Further details of the above are set out in the attachment.

 

This announcement is dated 4 August 2022.




Please refer attachment below.



Announcement Info

Company Name POWERWELL HOLDINGS BERHAD
Stock Name PWRWELL
Date Announced 04 Aug 2022
Category General Announcement for PLC
Reference Number GA1-04082022-00060


Related Announcements for PWRWELL
Date Title
14/06/2022 OTHERS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR "THE COMPANY") ACCEPTANCE OF SUPPLY CONTRACT AMOUNTING TO RM94,116,600.00
30/05/2022 OTHERS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR "COMPANY") VARIATION AND EXTENSION OF TIMEFRAME OF THE UTILISATION OF PROCEEDS RAISED FROM THE INITIAL PUBLIC OFFERING
16/03/2022 OTHERS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR THE "COMPANY") ACCEPTANCE OF SUPPLY CONTRACT AMOUNTING TO RM39,871,820.00
14/03/2022 OTHERS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR THE "COMPANY") ACCEPTANCE OF SUPPLY CONTRACT AMOUNTING TO RM39,871,820.00
22/07/2021 TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR THE "COMPANY") - PROPOSED ACQUISITION BY POWERWELL INTERNATIONAL SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY OF A PROPERTY FOR A TOTAL CASH CONSIDERATION OF RM11,500,000.00 ("PROPOSED ACQUISITION")
13/07/2021 OTHERS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR THE "COMPANY") ACCEPTANCE OF SUPPLY CONTRACT AMOUNTING TO RM9,588,675.00
14/06/2021 OTHERS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR THE "COMPANY") ACCEPTANCE OF SUPPLY CONTRACT AMOUNTING TO USD2.135 MILLION
25/05/2021 TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR THE "COMPANY") - PROPOSED ACQUISITION BY POWERWELL INTERNATIONAL SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY OF A PROPERTY FOR A TOTAL CASH CONSIDERATION OF RM11,500,000.00 ("PROPOSED ACQUISITION") - ADDITIONAL INFORMATION
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")
20/05/2021 TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR THE "COMPANY") - PROPOSED ACQUISITION BY POWERWELL INTERNATIONAL SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, OF A PROPERTY FOR A TOTAL CASH CONSIDERATION OF RM11,500,000.00 ("PROPOSED ACQUISITION")