Reference is made to the earlier announcements made on 28 July 2021, 8 October 2021 and 11 November 2021 in relation to the private placement of up to 396,384,000 new ordinary shares in the Company (Private Placement). The Company had on 18 November 2021 announced to Bursa Malaysia Securities Berhad on the completion of the Private Placement that the Company raised a total proceed of RM19,303,209.20.

The Board of Directors (Board) of Oversea wishes to announce that as at 30 September 2024, Oversea has utilised RM15,957,000 from the total proceeds raised from the Private Placement. On 9 January 2025, the Board of Oversea has approved to vary the utilisation of the proceeds raised from the Private Placement.

Please refer to the attachment for further details. 

This announcement is dated 9 January 2025.