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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 : Response To SGX Queries

10/04/2020 | 11:30am EST

RESPONSE TO SGX QUERY ON THE COMPANY'S ANNOUNCEMENT DATED 25 SEPTEMBER 2020

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, 5 January 2020, 31 March 2020 and 25 September 2020 in relation to the Placement (together, the "Announcements").

The Board of Directors (the "Board") of Yoma Strategic Holdings Ltd. (the "Company", and together with its subsidiaries, the "Group") refers to the following query raised by the Singapore Exchange Securities Trading Limited ("SGX") and the Company's response is set out below:

SGX's Query

The SGX referred to the Company's announcement issued on 24 November 2019 entitled "Proposed placement of 332,500,000 first tranche placement shares pursuant to general mandate - Receipt of approval in-principle from the SGX". The SGX provided an approval-in-principle for the listing and quotation of the first tranche placement shares subject to a written undertaking from the Company that it will comply with Rule 704(30) and Rule 1207(20) of the Listing Manual in relation to the use of proceeds from the proposed placement of shares and where proceeds are to be used for working capital purposes, the Company will disclose a breakdown with specific details on the use of proceeds for working capital in the Company's announcements on the use of proceeds and in the annual report.

Please provide the breakdown with specific details on the use of proceeds for general corporate purposes of US$4.9 million as disclosed in the Company's announcement of 25 September 2020.

Company's Response

Please find below a detailed breakdown on the general corporate expenditure of US$4.9 million.

USE OF PROCEEDS FOR PAYMENT FOR COST AND EXPENSES RELATING TO:

AMOUNT

Health and safety measures put in place for COVID-19 prevention, including additional health

US$1.0 million

insurance, medical supplies, workplace improvement and internet allowance due to work-from-

home policy.

Information Technology including license fees, upgrade of infrastructure and business process

US$1.3 million

digitalization.

Payments for professional fees such as legal, corporate secretarial, valuation, internal audit

US$1.7 million

and statutory audit.

Corporate expenses including group marketing expenses, tax related payments, insurance

US$0.9 million

and other corporate overheads.

ON BEHALF OF THE BOARD

Melvyn Pun

Chief Executive Officer

4 October 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

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Yoma Strategic Holdings Ltd. published this content on 04 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 October 2020 15:29:06 UTC


© Publicnow 2020
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Financials
Sales 2020 142 M 106 M 106 M
Net income 2020 - - -
Net Debt 2020 - - -
P/E ratio 2020 -
Yield 2020 -
Capitalization 626 M 470 M 469 M
Capi. / Sales 2020 4,43x
Capi. / Sales 2021 4,23x
Nbr of Employees 4 000
Free-Float 55,4%
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Mean consensus BUY
Number of Analysts 2
Average target price 0,48 SGD
Last Close Price 0,28 SGD
Spread / Highest target 78,6%
Spread / Average Target 71,4%
Spread / Lowest Target 64,3%
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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