UTILISATION OF PROCEEDS Sample Clauses

UTILISATION OF PROCEEDS. For illustrative purposes, the proceeds to be raised from the Proposed Subscription of RM9.53 million are expected to be utilised by MJPerak and its subsidiaries (“MJPerak Group” or “Group”) in the following manner: No. Details RM’000 #Expected timeframe for utilisation of proceeds (a) General working capital requirements 5,777 Within 12 months (b) Repayment of bank borrowings 3,500 Within 1 month (c) Expenses for the Proposals 250 Within 1 month Total 9,527 # From the listing date of Subscription Shares on the Main Market of Bursa Securities. (a) The Company intends to utilise RM5.8 million for its general working capital requirements, in the following manner: No. Details RM’000 (i) Emoluments and salaries for the staff of MJPerak Group to support the Group’s business operations 3,277 (ii) Administrative and operating expenditures (such as general office expenses, payment of trade creditors, statutory payments and maintenance and overheads expenses for its operations in Perak) 2,500 Total 5,777 (b) As at 31 December 2021, the Group’s total borrowings are approximately RM11.0 million. The Company proposes to utilise RM3.5 million of the proceeds raised to repay its bank borrowings. The repayment of the Group’s borrowings is expected to result in gross interest savings of approximately RM132,300 per annum, based on the average annual interest rate of 3.78%. (c) The estimated expenses consist of fees payable to the relevant authorities and advisory fees as well as other miscellaneous expenses to be incurred pursuant to the Proposals. Pending the full utilisation of the proceeds raised from the Proposed Subscription by Perak Agro, the Company intends to place these proceeds (including accrued interest, if any) or the balance thereof in interest-bearing deposit accounts with licensed financial institutions or in short-term money market instruments. The interest derived from the deposits with financial institutions or any gains arising from the short-term money market instruments will be used as the Group’s additional working capital requirements.

UTILISATION OF PROCEEDS. The total cash proceeds from the Proposed Disposal of RM56,089,234 is expected to be utilised for the working capital, initial capital outlay for new land acquisition and/or payment for joint venture arrangement and/or repayment of bank borrowings of Ivory Group within six (6) months from the Completion Date (as defined in Paragraph 7.2.2 below). The exact manner in which the proceeds is going to be utilised is yet to be determined as at now.

UTILISATION OF PROCEEDS. The Company intends to utilise the Total Entitlement in the following manner:- (RM) Estimated utilisation timeframe from receipt of Total Entitlement Redemption of the Property 27,500,000-00 Immediate Repayment of deposit for cancellation of Second SPA (hereinafter defined) Repayment of loan 24,000,000-00 500,000-00 Immediate Immediate

UTILISATION OF PROCEEDS. For illustrative purposes, based on the Indicative Issue Price, the revised Proposed Private Placement is expected to raise gross proceeds of up to RM151.0 million under the 2 following scenarios: The proceeds raised are expected to be utilised in the following manner: Minimum Scenario RM’000 Maximum Scenario RM’000 Notes Expected time frame for utilisation of proceeds (from listing date) To satisfy the Second Modular Purchase Consideration 91,493 149,817 (i) Within 12 months Estimated expenses for the Proposed Private Placement 900 1,200 (ii) Immediately Total estimated proceeds 92,393 151,017 The actual proceeds to be raised from the Proposed Private Placement are dependent on the issue price of the Placement Shares and actual number of Placement Shares issued. Any excess or shortfall of the actual proceeds raised will be adjusted against the proceeds earmarked towards satisfying the Second Modular Purchase Consideration. Any shortfall of cash to satisfy the Second Modular Purchase Consideration shall be funded from the internally generated funds of the Company or bank borrowings. Pending the full utilisation of the proceeds raised from the Proposed Private Placement, the Company intends to place these proceeds (including accrued interest, if any) or the balance thereof in interest-bearing deposit accounts with licensed financial institutions or in short- term money market instruments. The interest derived from the deposits with financial institutions or any gains arising from the short-term money market instruments will be used as additional working capital of the Group.

UTILISATION OF PROCEEDS. The proceeds to KUBMA will be utilised to settle its bank borrowings and reduce other debts, whilst the proceeds to KUBS will be used for operational requirements.

UTILISATION OF PROCEEDS. The proceeds received from the Disposal will be mainly used for working capital requirements of Comcorp group of companies (“Group”), which may include, amongst others, payment of staff costs, statutory contributions as well as other operating expenses.

UTILISATION OF PROCEEDS. The proceeds arising from the Proposed Disposal of RM7.20 million is expected to be used as follows: Purposes RM’000 Expected timeframe for the utilisation (from the date of SPA) Settlement of amount due to creditors 4,025 Within 12 months Working capital for its businesses and for on-going development and construction projects 3,133 Within 24 months Expenses related to the Proposed Disposal 42 Within 12 months

UTILISATION OF PROCEEDS. The balance payment of RM16,000,000 derived from the Proposal will be utilised to fund development projects by the Vendor in the next twelve (12) months and for the payment of expenses in relation to the Proposal.

UTILISATION OF PROCEEDS. Upon Completion, the proceeds from the sale of the Put-Option Shares of USD20.0 million (equivalent to RM89.51 million) are intended to be utilised as follows:- Proposed utilisation of proceeds RM‟000 (i)Estimated timeframe for utilisation Repayment of existing borrowings (ii)67,133 Within 12 months General working capital purposes (iii)21,877 Within 12 months Estimated expenses for the Proposed Settlement Agreement (iv)500 Within 3 months (i) From the Completion Date. (ii) For illustrative purposes, the repayment of bank borrowings could result in an estimated interest savings of approximately RM2.11 million per annum based on an effective interest rate of approximately 3.15% per annum. (iii) The general working capital requirement of Perisai Group includes but is not limited to office overheads and operating expenditure such as staff salaries and personnel related costs, office rental, payment for utilities, professional fees and office related expenses. (iv) The estimated expenses comprise professional fees, fees to be paid to the relevant authorities, printing and advertising charges and miscellaneous charges. If the actual expenses incurred are higher than the amount budgeted, the deficit will be funded out of the portion allocated for working capital. Conversely, if the actual expenses are lower than the amount budgeted, the excess will be utilised for working capital. Proceeds from the Deferred Payment Amount are expected to be utilised for repayment of bank borrowings and/or general working capital purposes.