General Announcement::Announcement by First Sponsor Group Limited, an as... Page 1 of 1
General Announcement::Announcement by First Sponsor Group Limited, an associate of Millennium & Copthorne Hotels plc
Issuer & Securities
Announcement Details
Announcement Title
Date & Time of Broadcast
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Announcement Sub Title
Announcement Reference
Submitted By (Co./ Ind. Name)
Designation
General Announcement 30-Apr-2018 18:34:01
New
Announcement by First Sponsor Group Limited, an associate of Millennium & Copthorne Hotels plc
SG180430OTHRLA0F
Enid Ling Peek Fong
Company Secretary
First Sponsor Group Limited ("FSGL"), an associate of Millennium & Copthorne Hotels plc, has on 30 April 2018 released an announcement relating to Use of Proceeds from the Rights Issue.
For details, please refer to the announcement released by FSGL on the SGX websitewww.sgx.com.
http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content&B=Anno... 30/4/2018
General Announcement::Use of Proceeds from the Rights Issue
Issuer & Securities
Issuer/ Manager | FIRST SPONSOR GROUP LIMITED |
Securities | FIRST SPONSOR GROUP LIMITED - KYG3488W1078 - ADN |
Stapled Security | No |
Announcement Details
Announcement Title | General Announcement |
Date & Time of Broadcast | 30-Apr-2018 17:24:19 |
Status | New |
Announcement Sub Title | Use of Proceeds from the Rights Issue |
Announcement Reference | SG180430OTHR0U6J |
Submitted By (Co./ Ind. Name) | Neo Teck Pheng |
Designation | Group Chief Executive Officer and Executive Director |
Description (Please provide a detailed description of the event in the box below) | Please see attached. |
Attachments | FSGL Rights Issue - Use of Proceeds.pdf Total size =11K |
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FIRST SPONSOR GROUP LIMITED (Incorporated in the Cayman Islands) (Registration No. AT-195714)
USE OF PROCEEDS FROM THE RIGHTS ISSUE
The board of directors (the "Board") of First Sponsor Group Limited (the "Company") refers to the Company's announcements on 8 February 2018, 21 February 2018, 15 March 2018, 23 March 2018, 16 April 2018 and 20 April 2018 and the offer information statement dated 23 March 2018 (the "Offer Information Statement") issued by the Company in relation to the Rights Issue (as defined in the Offer Information Statement). Unless otherwise defined herein or the context otherwise requires, all capitalised terms used in this announcement shall bear the same meanings ascribed to them in the Offer Information Statement.
As stated in the Offer Information Statement, pending the deployment of the Net Proceeds, the Net Proceeds may be used to repay the existing borrowings of the Company, deposited with banks and/or financial institutions, used for investment in short-term money markets or debt instruments and/or used for other purposes on a short-term basis as the Directors may deem appropriate in the interests of the Company.
The Board wishes to announce that out of the gross proceeds from the Rights Issue of approximately S$162.2 million, approximately S$161.5 million has been used to repay existing borrowings under its revolving credit facilities, pending the deployment of such funds for their intended use.
The Company will continue to make periodic announcements via SGXNET on the actual deployment of the proceeds.
BY ORDER OF THE BOARD
Neo Teck Pheng
Group Chief Executive Officer and Executive Director 30 April 2018
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Disclaimer
CDL - City Developments Ltd. published this content on 30 April 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 30 April 2018 11:35:07 UTC