Sasbadi Annual Report 2017

55 ANNUAL REPORT 2017 UTILISATION OF PROCEEDS Private Placement On 20 January 2016, Sasbadi Holdings Berhad (“Sasbadi Holdings” or “the Company”) completed a private placement exercise involving the placement of 12,700,000 new ordinary shares in the Company at RM2.49 per share to third party investors (“Placement”), raising gross proceeds of RM31.623 million. The Placement proceeds have been fully utilised as proposed, as at 19 December 2017. EMPLOYEES’ SHARE OPTION SCHEME (“ESOS”) The Company has implemented an ESOS of up to ten percent (10%) of the Company’s issued and paid-up share capital (excluding treasury shares, if any) for the eligible employees and executive directors of the Group (i.e. Sasbadi Holdings and our subsidiaries) effective from 1 September 2016. As at 19 December 2017, the Company has yet to grant any options under the ESOS. AUDIT AND NON-AUDIT FEES The amount of audit and non-audit fees incurred by the Company and the Group for services rendered by the external auditors or a firm or corporation affiliated to the external auditors to the Company and the Group during the financial year ended 31 August 2017 are as follows: Company Group Audit services – KPMG PLT – Other auditors Non-audit services RM’000 50 – 23 RM’000 273 4 23 The non-audit services provided by the external auditors were in relation to the review of the Statement on Risk Management and Internal Control, and the review of the breakdown of realised and unrealised profits or losses. MATERIAL CONTRACTS INVOLVING DIRECTORS AND/OR MAJOR SHAREHOLDERS There were no material contracts entered into by the Company and/or our subsidiaries involving the interest of Directors and/or major shareholders, either subsisting at the end of the financial year ended 31 August 2017 or entered into since the end of the previous financial year. RECURRENT RELATED PARTY TRANSACTIONS There were no recurrent related party transactions entered into by the Group during the financial year ended 31 August 2017. ADDITIONAL COMPLIANCE INFORMATION