GOVERNANCE ADDITIONAL COMPLIANCE INFORMATION UTILISATION OF PROCEEDS Proposed Rights Issue with Warrants On 17 July 2023, Destini Berhad (“Destini” or “the Company”) announced to undertake a renounceable rights issue of up to 1,663,531,629 new ordinary shares in the Company (“Destini Shares” or “Shares”) (“Rights Shares”) at the issue price of RM0.04 per Rights Share, on the basis of 1 Rights Share for every 1 existing Destini Share held, together with up to 1,663,531,629 Warrants on the basis of 1 Warrant for every 1 Rights Share subscribed for, on the Entitlement Date ("Previous Proposed Rights Issue with Warrants"). Subsequently on 28 August 2023, the Company announced to undertake a revised renounceable rights issue of up to 3,327,063,258 new Destini Shares at the issue price of RM0.04 per Rights Share, on the basis of 2 Rights Shares for every 1 existing Destini Share held, together with up to 1,663,531,629 Warrants on the basis of 1 Warrant for every 2 Rights Shares subscribed for, on the Entitlement Date. The Company had announced on 13 March 2024 that the Rights Issue with Warrants has been completed following the quotation of 3,327,063,258 Rights Shares and 1,663,531,629 Warrants on the Main Market of Bursa Securities. The details of utilisation of proceeds from the Rights Issue with Warrants were as follows:- Purposes Actual proceeds raised (RM‘000) Amount utilised as at date of this report (RM‘000) Balance Unutilised (RM‘000) Intended Timeframe for Utilisation Working Capital 219,478.00 219,478.00 - Within 24 months Repayment of Bank Borrowings 2,895.00 2,895.00 - Within 12 months Estimated Expenses 710.00 710.00 - Upon completion Total 133,083.00 133,083.00 - Company (RM) Group (RM) Audit Services Rendered 180,000.00 495,000.00 Non-Audit Services Rendered (a) Review of Statement on Risk Management and Internal Control 5,000.00 5,000.00 Save for the Rights Issue with Warrants, there were no proceeds raised from other proposal during the financial year. AUDIT AND NON-AUDIT FEES During the financial period, the amount of audit and nonaudit fees paid/payable to the external auditors by the Company and the Group respectively for the financial period ended 30 June 2024 were as follows: MATERIAL CONTRACTS There was no material contract entered into by the Company and/or its subsidiaries involving Directors’ and major shareholders’ interests. CONTRACTS RELATING TO LOANS There was no material contract relating to loans entered by the Company involving Directors and major shareholders. RECURRENT RELATED PARTY TRANSACTIONS There were no current related party transactions of revenue nature entered during the financial period ended 30 June 2024. 74 DESTINI BERHAD ANNUAL REPORT 2024
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