General Announcement::Use of Proceeds raised from the Rights cum Warrants Issue
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General Announcement::Use of Proceeds raised from the Rights cum Warrants Issue Issuer & Securities
Issuer/ Manager CSC HOLDINGS LIMITEDAnnouncement Details
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6/1/2016
- USE OF PROCEEDS
Unless otherwise defined, all capitalised terms and references used in this announcement shall have the same meanings ascribed to them in the Offer Information Statement dated 7 December 2015 in respect of the Rights cum Warrants Issue ("OIS").
The Board of Directors (the "Directors" or the "Board") of CSC Holdings Limited (the "Company", and together with its subsidiaries, the "Group") wishes to provide an update on the use of the net proceeds raised from the Rights cum Warrants Issue which amounted to approximately S$9.8 million (after deducting estimated costs and expenses of S$0.3 million).
As at the date of this announcement, the utilisation of the net proceeds raised from the Rights cum Warrants Issue is as follows:-
Intended use of net proceeds | Amount allocated (S$'000) | Amount utilised (S$'000) | Balance (S$'000) |
Financing of new Tuas Yard to be constructed and its related equipment expenditures | 5.5 to 7.0 | - | 5.5 |
Working capital purposes | 2.8 to 4.3 | 3.3(1) | 1.0 |
Total | 9.8 | 3.3 | 6.5 |
Note: (1) Working capital consists of trade payables and other operating expenses.
The use of proceeds from the Rights cum Warrants Issue is in accordance with the intended use as disclosed in the OIS.
The Company will make further announcements on the use of the remaining net proceeds as and when they are materially disbursed.
By Order of the Board
CSC HOLDINGS LIMITEDLee Quang Loong Company Secretary
6 January 2016
CSC Holdings Ltd. issued this content on 2016-01-04 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-07 01:12:08 UTC
Original Document: http://www.cschl.com.sg/newsroom/Use_of_Proceeds_060116.pdf