ADDITIONAL COMPLIANCE INFORMATION UTILISATION OF PROCEEDS On 29 October 2024, the Board of Directors of Destini (“Board”) announce that the Company proposes to undertake a private placement of up to 10% of the total number of issued shares of Destini to third party investor(s) to be identified later at an issue price to be determined later in accordance with the general mandate pursuant to Sections 75 and 76 of the Companies Act 2016 ("Private Placement"). On 29 November 2024, the Board announce that Bursa Securities had vide its letter dated 28 November 2024, resolved to approve the listing and quotation of up to 66,541,257 new ordinary shares to be issued pursuant to the Private Placement, subject to the following conditions: 1. D estini and UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Private Placement; 2. UOBKH to inform Bursa Securities upon the completion of the Private Placement; 3. UOBKH to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Private Placement is completed; and 4. W here applicable, UOBKH to furnish Bursa Securities with a certified true copy of the resolution passed by Destini's shareholders for the general mandate under Sections 75 and 76 of the Companies Act, 2016 at Destini’s forthcoming general meeting, before the listing of the new shares to be issued pursuant to the Private Placement. On 9 May 2025, the Board resolved to fix the issue price for the Private Placement at RM0.3500 per Placement Share. The issue price of RM0.3500 per Placement Share represents a premium of 3.43% to the 5-day volume weighted average market price of Destini Shares up to and including 8 May 2025, being the last traded day of Destini Shares immediately preceding the price-fixing date, of RM0.3384 per Destini Share. On 21 May 2025, the Board announce that 49,905,941 Placement Share were listed and quoted on the Main Market of Bursa Securities. Out of up to 66,541,257 new Destini Shares approved by Bursa Securities vide its letter dated 28 November 2024, only 49,905,941 new Destini Shares had been placed out pursuant to Private Placement. The Board has confirmed that there will be no additional Placement Shares to be placed out pursuant to Private Placement, therefore the Private Placement is deemed completed. Save for the Private Placement, there were no proceeds raised from other proposal during the financial year. 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 – IWK Projects 6,753 6,753 - Within 12 months Working Capital – RMAF Project 4,564 2,895.00 - Within 12 months Acquisition of equipment 6,000 6,000 - Within 12 months Estimated Expenses 56 56 - Upon completion Total 17,373 17,373 - GOVERNANCE DESTINI BERHAD ANNUAL REPORT 2025 80
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