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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 LIMITED


Stapled Security No


Announcement Details


Announcement Title General Announcement


Date & Time of Broadcast 06-Jan-2016 17:30:18


Status New


Announcement Sub Title Use of Proceeds raised from the Rights cum Warrants Issue


Announcement Reference SG160106OTHRADSN


Submitted By (Co./ Ind. Name) Lee Quang Loong


Designation Company Secretary


Description (Please provide a detailed description of the event in the box below) Please refer to theattachment.


Attachments


Use of Proceeds.pdf Total size =30K

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6/1/2016



ANNOUNCEMENT IN RELATION TO THE RENOUNCEABLE NON-UNDERWRITTEN RIGHTS CUM WARRANTS ISSUE:

- 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 LIMITED


Lee 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