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CORPORATE GOVERNANCE
Use of Exercise Proceeds from Warrants Issue
(Rule 1204(5)(f) and 1204(22) of the Catalist Rules)
As of 23 June 2014, the Exercise Proceeds amounting to S$2,749,770, which had been set aside for repayment of the Group’s borrowings,
investment purposes including but not limited to new business opportunities, funding of working capital requirements such as inventories and
trade receivables and/or such other purposes as the Directors may deem ft, have not been utilised. The Company will continue to make periodic
announcements on the use of the Exercise Proceeds as and when such proceeds are materially disbursed.
Use of Initial Public Offering (“IPO”) Proceeds
(Rule 1204(5)(f) and 1204(22) of the Catalist Rules)
As of 23 June 2014, there is an unutilised balance of IPO Proceeds amounting to S$227,000 which had been set aside for expansion through
strategic alliances, acquisitions, joint ventures and franchises. The portion of the IPO Proceeds that had been utilised were in accordance with
their stated uses. The Company will continue to make periodic announcements on the use of the balance of the IPO Proceeds as and when such
proceeds are materially disbursed.
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Annual Report 2014 •