GEL.CS.013/2565
Date July 27, 2022
Subject: Report on the utilization of proceeds from the capital increase - June 30,2022
To | Director and Manager |
The Stock Exchange of Thailand |
General Engineering Public Company Limited ( " Company" ) would like to report on the utilization of the capital increase that received from the allocation of new shares to the existing shareholders proportionate to their shareholding (Right Offering) as the resolution of the Annual General Meeting of Shareholders for the year 2022 on Friday 29 April 2022, a total of 1,641,439,246 shares at the offering price of THB 0.23 per share representing of THB 377,531,026.58. The Company has received the net proceeds from capital increase of THB 376,318,026.58 after deducting the related expenses from the capital increase.
The Company would like to report the utilization of the capital increase as of 30 June 2022 as follows
Objectives of utilization of proceeds from the | Proportion of use | Actual Spending | Actual Spending |
capital increase | capital increase | As of 30 June 2022 | (%) |
1.Use as Working Capital | 30% - 50% | 44,964,813.80 | 11.94% |
2.For paying debts the company and/or its | 20% - 40% | 120,000,000.00 | 31.88% |
subsidiaries to financial institutions | |||
3.For the purpose of increasing a new capital | 15% - 30% | - | - |
on one of the subsidiaries | |||
Outstanding proceeds as of 30 June 2022 | 211,353,212.78 | ||
However, the aforementioned money utilization plan is subject to change depending on the operating results, cash flow, business plan, necessity, and another suitability as the Board of Directors deems appropriate which will take into account the benefits of the company and the shareholders as important.
Please be informed accordingly.
Yours sincerely,
General Engineering Public Company Limited -Signed-
(Mr. Wuttichai Sresthabutra) Director
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General Engineering pcl published this content on 27 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2022 15:23:03 UTC.