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OTHERS NESTCON BERHAD ("NESTCON" OR "COMPANY") - UPDATES ON THE STATUS OF UTILISATION OF PROCEEDS FROM PRIVATE PLACEMENT
NESTCON BERHAD
Type
Announcement
Subject
OTHERS
Description
NESTCON BERHAD ("NESTCON" OR "COMPANY") - UPDATES ON THE STATUS OF UTILISATION OF PROCEEDS FROM PRIVATE PLACEMENT
Unless otherwise stated, abbreviations used herein shall be the same as those stated in the Company's announcements dated 12 July 2024, 17 July 2024, 31 July 2024, 23 August 2024, 30 August 2024, 13 January 2025, 6 February 2025, 14 July 2025, 29 July 2025, 18 August 2025, 27 August 2025, 20 January 2026, 28 January 2026 and 27 February 2026 (collectively referred to as the "Announcements").
Further to the Announcements, the Board of Directors of Nestcon ("the Board") wishes to announce the status of utilisation of the proceeds raised from the Private Placement as at the date of this announcement.
The status of the utilisation of proceeds raised from the Private Placement is as follows:-
Purpose
Proceeds Raised (RM'000)
Actual Utilisation (RM'000)
Balance to be Utilised (RM'000)
Utilised (%)
Estimated Timeline for Utilisation of Proceeds
Repayment of bank borrowings
20,733
(20,733)
-
100.00
Within 6 months
Working capital
-
-
-
-
Within 12 months
Estimated expenses for the Proposed Private Placement
195
(195)
-
100.00
Within 1 month
Total
20,928
(20,928)
-
100.00
The Private Placement was completed following the listing of and quotation for 22,820,000 placement shares, being part of the Private Placement of up to 70,820,000 new ordinary shares, on the ACE Market of Bursa Malaysia Securities Berhad on 28 January 2026.
As at the date of this announcement, the proceeds arising from the final tranche of the Private Placement have been fully utilised in accordance with the utilisation of proceeds as disclosed in the Private Placement Announcement.