OTHERS OVERSEA ENTERPRISE BERHAD (OVERSEA OR THE COMPANY) - EXTENSION OF TIME FOR THE UTILISATION OF PROCEEDS RAISED FROM PRIVATE PLACEMENT
OVERSEA ENTERPRISE BERHAD |
Type | Announcement | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subject | OTHERS |
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Description | OVERSEA ENTERPRISE BERHAD (OVERSEA OR THE COMPANY) - EXTENSION OF TIME FOR THE UTILISATION OF PROCEEDS RAISED FROM PRIVATE PLACEMENT |
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Reference is made to the earlier announcements made on 28 July 2021, 8 October 2021, 11 November 2021 and 9 January 2025 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 Revised Time Frame does not require the approval of any regulatory authorities or the shareholders of Oversea.
The Board, having considered all aspects of the proposed Extension of Time, is of the opinion that it will not have material adverse effect on the financial performance of the Group and is in the best interest of the Group.
The Company shall continue to be vigilant and prudent in managing the remaining proceeds raised from the Private Placement and will continue to disclose the status of the utilisation in the Company's quarterly results and annual reports until it is fully utilised.
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Announcement Info
Company Name | OVERSEA ENTERPRISE BERHAD |
Stock Name | OVERSEA |
Date Announced | 28 Aug 2025 |
Category | General Announcement for PLC |
Reference Number | GA1-28082025-00011 |