DISA Limited

(formerly known as Equation Summit Limited)

(Company Registration No. 197501110N) (Incorporated in the Republic of Singapore)

("Company" and together with its subsidiaries, the "Group")

UPDATE ON USE OF PLACEMENT PROCEEDS

Unless otherwise defined, capitalised terms used herein shall bear the same meaning ascribed to them in the placement announcements dated 25 November 2016, 7 December 2016, 12 December 2016, 3 January 2017 and 2 November 2017 in relation to the proposed subscription of 300,000,000 new Ordinary Shares.

The board of directors (the "Directors") of the Company wishes to announce that the net proceeds from the Placement have been fully utilized as at the date of this announcement.

Intended use of net proceeds

Amount allocated

Amount utilised

Balance

S$'000

S$'000

S$'000

Repayment of accrued interest from convertible loan

1,576

1,576

-

General working capital

1,394

1,394(1)

-

2,970

2,970

-

Note:

(1)General working capital consisted of non-trade payments, directors' fee, staff salaries and related expenses.

The utilization of the proceeds is consistent with the intended use as disclosed in the announcement dated 25 November 2016.

BY ORDER OF THE BOARD

Chng Weng Wah

Managing Director 2 January 2018

This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, SAC Capital Private Limited ("Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr. Ong Hwee Li (Registered Professional, SAC Capital Private Limited).

Address: 1 Robinson Road, #21-02 AIA Tower, Singapore 048542. Telephone number: +65 6532 3829

DISA Limited published this content on 03 January 2018 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 03 January 2018 08:19:05 UTC.

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