ADDITIONAL COMPLIANCE INFORMATION ADDITIONAL COMPLIANCE INFORMATION 1. Utilisation of Proceeds raised from Corporate Proposals a) Private Placement On 21 March 2022, the Company had announced to undertake a private placement of up to 163,398,700 new ordinary shares (“Placement Shares”), representing approximately 2.0% of the total number of issued shares of the Company to third party investor(s). Bursa Malaysia Securities Berhad had on 23 March 2022 approved the listing and quotation of up to 163,398,700 Placement Shares pursuant to the Private Placement. The Private Placement was completed on 8 April 2022 following the listing and quotation of 163,398,700 Placement Shares at an issue price of RM5.94 per Placement Share. As at 31 December 2022, the net proceeds of RM965.6 million has been utilised in the following manner: Details of use of proceeds Estimated timeframe for use of proceeds from the date of listing of the Placement Shares Proposed Utilisation (RM’ Million) Actual Utilisation (RM’ Million) Capital expenditure Within 12 months 175.6 175.6 Working capital Within 12 months 670.0 670.0 Repayment of borrowings Within 6 months 120.0 120.0 Total 965.6 965.6 b) Islamic Medium Term Notes Programme of up to RM5.0 Billion in Nominal Value Based on the Shariah Principle of Wakalah Bi Al-Istithmar (“Sukuk Wakalah”) (“Sukuk Programme”) The Company had on 17 October 2019, made its first issuance of Sukuk Wakalah under the Sukuk Programme. The first issuance of Sukuk Wakalah was for the aggregate nominal value of RM1.0 billion with tenures of 5 years, 7 years and 10 years. On 17 August 2020, the Company made its second issuance of Sukuk Wakalah under the Sukuk Programme. The second issuance of Sukuk Wakalah was for a nominal value of RM700.0 million with a tenure of 5 years. On 7 December 2021, the Company made its third issuance of Sukuk Wakalah under the Sukuk Programme. The third issuance of Sukuk Wakalah was for a nominal value of RM600.0 million with a tenure of 6 years and 7 years. The net proceeds from the Sukuk Wakalah issued in 2020 and 2021 have been utilised for general corporate purposes, including capital expenditure, working capital requirements, investments and refinancing of existing financing/borrowings. The Company did not raise any proceeds from the Sukuk Wakalah during the financial year ended 31 December 2022. ANNUAL REPORT 2022 64
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