106 DATASONIC GROUP BERHAD GOVERNANCE 05 The following information are provided in compliance with the Main Market Listing Requirements of Bursa Malaysia Securities Berhad:- 1. UTILISATION OF PROCEEDS RAISED FROM CORPORATE PROPOSAL The status of the utilisation of proceeds raised from corporate proposal on the following private placement exercises as at 31 March 2023 are as follow:- The private placement amounting to RM126,284,000 from the private placement of 262,000,000 new ordinary shares at an issue price of RM0.482 per share of which the issued share capital of the Company was increased to RM261,284,000 comprising of 2,962,000,000 ordinary share which was completed on 7 April 2021. On 7 October 2021, the Board resolved to revise the utilisation of proceeds raised from the private placement by re-allocating the proceeds. On 4 April 2022, the Board has resolved to extend the timeframe for the utilisation of the remaining unutilised proceeds raised from the private placement, re-allocated to finance the Group’s existing and future projects for an additional six (6) months of up to eighteen (18) months from the listing of placement shares. The Board is of the opinion that the extension of time for the utilisation of proceeds raised from the Private Placement is in the best interest of the Company and is not subject to the approval of the shareholders of the Company or any regulatory authorities. The proceeds raised from the Private Placement has been fully utilised in May 2022. The details of the private placement are set out as follows: Description Proposed utilisation RM’000 Reallocation 7.10.2021 RM’000 Revised utilisation RM’000 Actual utilisation RM’000 Unutilised balance RM’000 Revised timeframe for utilisation Repayment of bank borrowings 79,950 (55,356) 24,594 (24,594) - - Finance Group’s existing and future projects 45,949 55,356 101,305 (101,305) - Within 18 months Estimated expenses in relation to the Private Placement 385 - 385 (385) - - 126,284 - 126,284 (126,284) - ADDITIONAL COMPLIANCE Information
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