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MarketScreener Homepage  >  Equities  >  Singapore Stock Exchange  >  Yoma Strategic Holdings Ltd.    Z59   SG1T74931364

YOMA STRATEGIC HOLDINGS LTD.

(Z59)
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Yoma Strategic : Use Of Placement Proceeds

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03/31/2020 | 08:31am EDT

USE OF PROCEEDS FROM PLACEMENT COMPLETED IN DECEMBER 2019

Unless otherwise defined, all terms used or referred to in this announcement have the meanings as assigned to them in the announcements made by the Company on 14 November 2019, 24 November 2019, 2 December 2019, 11 December 2019 and 5 January 2020 in relation to the Placement (together, the "Announcements").

Further to the Announcements, the Board of Directors of Yoma Strategic Holdings Ltd. (the "Company") wishes to provide an update on the utilization of the net proceeds from the First Tranche Placement Shares. The Company has utilised the net proceeds as follows:-

  1. US$14.1 million towards investments in Real Estate businesses in relation to the Yoma Central project and capital expenditure for development in StarCity and Pun Hlaing Estate;
  2. US$4.5 million towards the capital expenditure for store expansions in the Group's consumer business and recoverable cost in relation to the restructuring exercise of the Group's investment in Seagram Myanmar;
  3. US$4.6 million towards refinancing of existing indebtedness; and
  4. US$8.7 million towards general corporate purposes including the Group's investment in
    Volkswagen business and private equity fund and payment of fees and expenses including professional fees.

To-date, following the abovementioned utilisation, out of the gross proceeds from the First Tranche Placement Shares of approximately US$108.6 million raised from the Placement, approximately US$15.2 million remains unutilised. The abovementioned utilization of net proceeds is in accordance with the intended purposes and percentage allocation stated in the Company's announcement dated 14 November 2019.

The Company will continue to make periodic announcements on the utilization of the gross proceeds from the First Tranche Placement Shares as and when the balance funds are materially disbursed.

ON BEHALF OF THE BOARD

Melvyn Pun

Chief Executive Officer

31 March 2020

YOMA STRATEGIC HOLDINGS LTD.

Company Registration No. 196200185E 63 Mohamed Sultan Road #02-14Sultan-Link Singapore 239002 Tel: (65) 6223 2262 Fax: (65) 6223 1990

www.yomastrategic.com

Disclaimer

Yoma Strategic Holdings Ltd. published this content on 31 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 March 2020 12:30:03 UTC

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Financials
Sales 2020 163 M 117 M 117 M
Net income 2020 - - -
Net Debt 2020 - - -
P/E ratio 2020 -
Yield 2020 -
Capitalization 647 M 466 M 466 M
EV / Sales 2019
Capi. / Sales 2020 3,98x
Nbr of Employees 4 000
Free-Float 55,3%
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Mean consensus BUY
Number of Analysts 2
Average target price 0,48 SGD
Last Close Price 0,29 SGD
Spread / Highest target 72,4%
Spread / Average Target 65,5%
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Managers
NameTitle
Chi Tung Pun Chief Executive Officer & Executive Director
Serge Pun Executive Chairman
J. R. Ching Chief Financial Officer
Peng Ee Chan Lead Independent Non-Executive Director
Su-Yen Wong Independent Non-Executive Director