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


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