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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

09/25/2020 | 11:40am EST

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, 5 January 2020 and 31 March 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$5.7 million towards investments in Real Estate businesses in relation to the Peninsula Hotel Yangon Project and capital expenditure for development in StarCity and Pun Hlaing Estate;
  2. US$1.3 million towards store development and costs relating to the health and safety measures put in place for customers and employees in response to COVID-19 at the Group's F&B businesses;
  3. US$3.3 million towards refinancing of existing indebtedness; and
  4. US$4.9 million towards general corporate purposes such as the payment of professional fees, other expenses and costs relating to the health and safety measures put in place for customers and employees to address the risks to the Group of COVID-19.

To-date, following the abovementioned utilisation, the Company had fully disbursed the gross placement proceeds from the First Tranche Placement Shares of approximately US$108.6 million raised from the Placement in accordance with the intended purposes and percentage allocation stated in the Company's announcement dated 14 November 2019.

ON BEHALF OF THE BOARD

Melvyn Pun

Chief Executive Officer

25 September 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 25 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 September 2020 15:39:04 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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Income Statement Evolution
Consensus
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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%
EPS Revisions
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