1. UTILISATION OF PROCEEDS FROM CORPORATE PROPOSALS In conjunction with the proposed acquisition of 60% equity interest in SilTerra Malaysia Sdn Bhd by the Company from Khazanah Nasional Berhad for the purchase consideration of RM163,800,000 to be satisfied entirely by cash, the Company had on 31 March 2021 announced that the Company proposes to undertake a private placement of up to 30% of the total number of issued shares of the Company to third party investor(s) to be identified later at an issue price to be determined later (“Proposed Private Placement”). On 9 April 2021, the Company announced that the listing application in relation to the Proposed Private Placement has been submitted to Bursa Malaysia Securities Berhad (“Bursa Securities”), the listing application was subsequently approved by Bursa Securities and shareholders on 27 April 2021 and 20 May 2021 respectively. On 26 April 2022, the Company announced that the timeframe to implement the Proposed Private Placement has lapsed. The Company did not intend to seek for any further extension of time for the implementation of the Proposed Private Placement. The status of the utilisation of proceeds raised from the Private Placement as at 30 June 2022 is as follows: Details of utilisation Proposed utilisation RM’000 Actual utilisation RM’000 Balance unutilised RM’000 Intended timeframe for utilisation from the receipt of placement funds Future viable investment 93,637 93,637 – Within 24 months Partial repayment of bank borrowings 20,000 20,000 – Within 6 months Working capital 49,868 5,000 44,868 Within 12 months Estimated expenses 100 100 – Upon completion 163,605 118,737 44,868 2. AUDIT AND NON-AUDIT FEES The audit and non-audit fees paid or payable for the financial year ended 30 June 2022 to the Company’s external auditors and firm affiliated to the external auditors are set out below: Group RM’000 Company RM’000 Audit Fees 1,484 220 Non-Audit Fees 15 15 3. RECURRENT RELATED PARTY TRANSACTIONS During the financial year ended 30 June 2022, the Company did not enter into any recurrent related party transaction that requires the shareholders’ mandate. 4. MATERIAL CONTRACTS Save as disclosed in the Audited Financial Statements for the financial year ended 30 June 2022, there were no material contracts entered into by the Company and its subsidiaries involving the interests of Directors, chief executive who is not a director or major shareholders, either still subsisting at the end of the financial year ended 30 June 2022 or entered into since the end of the previous financial year. 5. CONTRACTS RELATING TO LOANS During the financial year ended 30 June 2022, there were no material contracts relating to loans entered into by the Company and its subsidiaries involving the Directors, chief executive who is not a director or major shareholders. DAGANG NeXCHANGE BERHAD 136 ADDITIONAL COMPLIANCE INFORMATION
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