152 YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2023 OTHER COMPLIANCE INFORMATION 1. Status of Corporate Proposals and Utilisation of Proceeds Rights Issue and Utilisation of Proceeds On 28 June 2022, the Company completed the Rights Issue of 844,207,538 ordinary shares, on the basis of 2 rights shares for every 5 existing ordinary shares with 361,802,016 free detachable warrants. The proceeds from this exercise were utilised to fuel the growth and expansion plans of the Group, while improving the net gearing and financial position. The details of the utilisation of the proceeds as at 19 May 2023 are as follows: Utilisation of Proceeds Intended timeframe for utilisation* Proposed utilisation Actual utilisation# (Over)/ Unutilised amounts RM million RM million RM million New FPSO project Within 18 months 762 707 55 Expansion of renewable energy and green technology business Within 18 months 44 76 (32) Repayment of bank borrowings Within 3 months 318 323 (5) Working capital Within 3 months 55 74 (19) Defrayment of estimated expenses for the Proposals Within 12 months 11 10 1 Total 1,190 1,190 - Notes: * From 28 June 2022 (being the date of completion of the Rights Issue). # From 28 June 2022 to 19 May 2023. 2. Audit and Non-Audit Fees The amount of audit and non-audit fees paid to the Company’s External Auditors, PwC and its affiliates for the services rendered to the Group and the Company for FYE 2023, are as follows: Particulars Group RM’000 Company RM’000 Audit Fees 5,444 695 Non-Audit Fees 2,638 1,330 Percentage of Non-Audit Fees over Audit Fees 48% 191% The Non-Audit services rendered by the External Auditors related to the following: Group Level No. Description RM’000 1 Professional services rendered in connection with income tax compliance 864 2 Professional services rendered in connection with income tax advisory matters 598 3 Due diligence works rendered on business acquisitions and specific projects in certain countries 819 4 Professional services rendered in connetion with other assurance related matters 357
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