ANNUAL REPORT 2015
31
Corporate Governance
Report
USE OF PROCEEDS FROM INITIAL PUBLIC OFFERING
(Rule 1204(22) of the Catalist Rules)
Pursuant to the Company’s IPO, the Company received net proceeds from the IPO of approximately $37.5 million (the “Net Proceeds”). As at the
date of this Annual Report, the Net Proceeds have been utilised as follows:
Purpose
Allocation of Net
Proceeds
(as disclosed in the
Offer Document)
($’000)
Net Proceeds utilised
($’000)
Balance of Net
Proceeds
($’000)
Establish new outlets and refurbish existing outlets
12,000
–
12,000
Acquire new premises, equipment and machinery
11,500
–
11,500
Working capital and general corporate purposes
14,000
(10,000)
(1)
4,000
37,500
(10,000)
27,500
Note:
(1)
For the Group’s operating expenses.
