My EG Services Berhad Annual Report 2020

ANNUAL REPORT 2020 235 ADDITIONAL INFORMATION 1. UTILISATION OF PROCEEDS The status of the proceeds raised from the first tranche of the private placement amounting to RM216.0 million, which was completed on 17 December 2020 following the listing and quotation of 120,000,000 MYEG ordinary shares (“ Placement Shares ”) on the Main Market of Bursa Securities (“ Private Placement ”) as at 31 March 2020 are as follow:- Descriptions Proposed Utilisation Actual Proceeds raised from the Private Placement Actual Utilisation Balance Estimated timeframe for the utilisation of proceeds from the date of listing of the Placement Shares RM’ mil RM’ mil RM’ mil RM’ mil Development of foreign workers hostels under the foreign workers’ accommodation programme 94.5 50.0 16.9 33.1 Within 24 months Development of healthcare related services 168.0 89.0 36.3 52.7 Within 24 months Purchase of fixed assets and related solutions for the e-government concession services 126.0 67.0 37.1 29.9 Within 12 months Working capital 9.1 5.5 5.5 - Within 12 months Estimated expenses for the Private Placement exercise 9.4 4.5 4.5 - Immediate Total 407.0 216.0 100.3 115.7 2. MATERIAL CONTRACTS There were no material contracts subsisting at the end of the FY2020 entered into by the Group involving the interests of the Directors and major shareholders. 3. CONTRACTS RELATING TO LOANS There were no contracts relating to loans by the Company involving Directors’ and major shareholders’ interests. 4. RECURRENT RELATED PARTY TRANSACTIONS Details of transactions with related parties undertaken by the Group during the FY2020 are disclosed in Note 43(b) to the Financial Statements. 5. EMPLOYEES’ SHARE OPTION SCHEME At the Extraordinary General Meeting held on 6 August 2020, the shareholders of the Company approved the establishment of the Employees’ Share Option Scheme (“ ESOS ”) of up to 10% of the total number of issued shares of the Company (excluding treasury shares, if any) at any point in time over the duration of 5 years from the effective date of implementation of ESOS i.e. on 24 December 2020. Since then, the Company has yet to grant any option to eligible persons. ADDITIONAL COMPLIANCE INFORMATION