Reference is made to the earlier announcements made on 28 July 2021, 8 October 2021, 16 & 31 March 2022, 20 & 26 September 2022, 26 October 2022, 20 March 2023, 15 & 28 June 2023, 6, 10 & 27 July 2023 and 22 August 2023 in relation to the rights issue of up to 1,583,196,991 new ordinary shares together with up to 527,732,330 free detachable warrant B (Rights Issue with Warrants). The Company had on 28 August 2023 announced to Bursa Malaysia Securities Berhad on the completion of the Rights Issue with Warrants that the Company raised a total proceed of RM67,984,000.

The Board of Directors (Board) of Oversea wishes to announce that as at 30 September 2024, Oversea has utilised RM48,495,000 from the total proceeds raised from the Rights Issue with Warrants. On 9 January 2025, the Board of Oversea has approved to vary the utilisation of the proceeds raised from the Rights Issue with Warrants

Please refer to the attachment for further details. 

This announcement is dated 9 January 2025.