KIM HENG OFFSHORE & MARINE HOLDINGS LIMITED
ANNUAL REPORT 2014
45
The Company does not have a shareholders’ mandate for interested person transactions pursuant to Rule
920 of the Catalist Rules.
MATERIAL CONTRACTS
(Rule 1204(8) of the Catalist Rules)
Save for the service agreements between the Company and the Executive Directors, disclosures above in
the “Interested Person Transactions” section and except as disclosed in this Report, Directors’ Report and
the audited financial statements of the Company for FY2014, there were no other material contracts of the
Company and its subsidiaries involving the interests of the CEO or any Director or controlling shareholder,
either subsisting at the end of the financial year reported on or if not then subsisting, which were entered
into since the end of the previous financial year.
NON-SPONSOR FEES
(Rule 1204(21) of the Catalist Rules)
There was no non-sponsor fee paid to the Company’s Sponsor, Canaccord Genuity Singapore Pte. Ltd.
subsequent to the Company’s listing on the Catalist to the date of printing of this Annual Report.
USE OF PROCEEDS FROM INITIAL PUBLIC OFFERING (“IPO”)
(Rule 1204(22) of the Catalist Rules)
As at 31 December 2014, the IPO proceeds have been utilised as follows:
Intended Usage in accordance with the Offer
Document
Allocation
($’000)
Amount
utilised
($’000)
Amount
unutilised
($’000)
Capital expenditure for enhancement of yard
facilities and fleet expansion
20,000
–
20,000
Expansion of business scope via investments,
acquisitions and strategic alliances
7,000
–
7,000
General working capital
9,400
(3,000)
6,400
IPO Expenses
3,600
(3,490)
110
Total
40,000
(6,490)
33,510
General working capital of S$3 million utilized for the purchase of materials for trading purpose.
CODE OF CONDUCT & PRACTICES
The Group recognises the importance of integrity and professionalism on the conduct of its business
activities. Employees are expected to embrace, practise and adopt these values when performing their
duties and always to act in the best interest of the Group and avoid situations that may create conflicts of
interest.
