PRG Holdings Berhad Annual Report 2018

47 1. Audit and Non-audit Fees The amount of audit and non-audit fees paid and payable to the external auditors for the financial year ended 31 December 2018 are tabled as follows: Group Company RM‘000 RM ‘000 Audit Fees 487 42 Non-Audit Fees 24 21 2. Material Contracts During the financial year, the Group did not enter into any material contracts involving Directors’ and major shareholders’ interest other than as disclosed in Note 30 of the financial statements. 3. Employees’ Share Option Scheme and/or Share Grant Plan pursuant to the LTIP During the financial year, no options or shares were granted/issued by the Company. 4. Utilisation of Proceeds from Corporate Proposal On 3 October 2018, the Company announced that it had disposed an aggregate of 60,480,000 ordinary shares in Furniweb Holdings Limited representing a 12% equity interest to independent third parties via direct business transactions for a cash consideration of HKD0.50 per share (equivalent to approximately RM0.2630 per share based on the actual transacted exchange rate of HKD100:RM52.6095 on 3 October 2018) (“Disposal”). The status of the utilisation of the disposal proceeds as at 31 December 2018 is as follows: Proposed Actual Balance Expected utilisation utilisation Deviation unutilised time frame RM'000 RM'000 RM'000 % RM'000 for utilisation Defraying estimated expenses in relation to the Previous Disposal 800 800 - - - Balance purchase consideration in respect to the acquisition of Esther Postpartum Care Sdn. Bhd. ("EPC") 3,477 3,477 - - - Payment to contractors relating to Within property development projects 8,000 6,359 - - 1,641 12 months Working capital* 3,686 3,632 - - - 15,963 14,268 - - 1,641 Note: * PRG received disposal proceeds of RM15.91 million (instead of RM15.96 million as announced on 3 October 2018) pursuant to the Disposal due to the actual exchange rate used of HKD100:RM53.6095 for the repatriation of the disposal proceeds. The difference of approximately RM0.05 million was set off against the proceeds set aside for PRG Group’s working capital. 5. Recurrent Related Party Transactions of a Revenue or Trading Nature (“RRPT”) Details of the RRPT conducted during the year were disclosed in Section 2.3 of Part B of the Circular to Shareholders dated 19 April 2019 dispatched together with this Annual Report. ADDITIONAL COMPLIANCE INFORMATION PRG HOLD I NGS BERHAD