Further to the Company's Results Announcement on 14 August 2013, the Board of Directors of Scintronix Corporation Ltd. (the "Company") is pleased to provide an update on use of the net proceeds raised from the share placement of 814,371,793 new ordinary shares in the capital of the Company.
As at 22 August 2013, the Company has utilized the net proceeds in the following manner:
Description (S$'000) (S$'000) Net proceeds 10,724
Repayment of shareholder's loan (2,000)
Working Capital:
Staff cost, directors' fee & admin expenses (926) Audit, legal & other professional expenses (321) Legal & professional fee for corporate exercises (114)
(1,361)
Balance to be utilised 7,363
The utilisation of share placement proceeds is in accordance with the intended use as stated in the previous announcements.
The Company will provide further update on the use of net proceeds when they are materially disbursed.
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