Serba Dinamik Annual Report 2021

Section 5 | Management Discussion & Analysis 166 CORPORATE EXERCISES On 5 May 2020, the Company has completed the private placement exercise, in which the Company had issued 306,507,000 new shares with an issue price of RM1.49 per placement share. The proceeds of the raised funds were allocated and utilised as follows: The utilisation of the proceeds as disclosed above should be read in conjunction with the Announcement made by the Company dated 5 January 2021. FINANCIAL PERFORMANCE Private placement on 5 May 2020 Private Placement on 3 February 2021 Partial repayment of bank borrowings Partial repayment of bank borrowings Within 24 months Within 6 months 200,000 100,000 200,000 100,000 0 0 100.00% 100.00% Details of utilisation of proceeds Details of utilisation of proceeds Estimated timeframe for utilisation Estimated timeframe for utilisation Amount RM’000 Amount RM’000 Utilised RM’000 Utilised RM’000 Unutilised RM’000 Unutilised RM’000 Unutilised % Unutilised % Working Capital Capital expenditure Working Capital Within 12 months Within 24 months Within 24 months 245,555 100,000 100,000 245,555 25,068 209,187 0 74,932 87,036 100.00% 25.07% 70.62% Estimated private placement expenses Estimated private placement expenses Immediately Within 12 months 11,140 12,390 11,140 12,390 0 0 100.00% 100.00% Total gross proceeds Total gross proceeds 456,695 508,613 456,695 346,645 161,968 0 100.00% 68.15% The utilisation of the proceeds as disclosed above should be read in conjunction with the Announcement made by the Company dated 23 April 2020. On 28 October 2020, the Group has completed its undertaking on optional redemption of the Trust Certificates from the holder of USD300 million Trust Certificates due 2022 (“Series 1 Certificates”) and USD200 million Trust Certificates due 2025 (“Series 2 Certificates”) for cash on the terms and conditions contained in the tender offer memorandum dated 9 October 2020. TheGrouphas redeemedUSD77.8million fromSeries 1 Certificates andUSD19.9million fromSeries 2Certificates. As such, the outstanding balance for the Trust Certificates are USD222.2 million for Series 1 Certificates and USD180.1 million for Series 2 Certificates. On 3 February 2021, the Company has completed the private placement exercise, in which the Company had issued 336,830,000 new shares with an issue price of RM1.51 per placement share. The proceeds of the raised funds were allocated and utilised as follows: