Navigating Challenges • EMBRACING DIVERSITY | ANNUAL REPORT 2015
NOTICE OF ANNUAL GENERAL MEETING
statisTICS OF SHAREHOLDINGs
FINANCIAL CONteNts
CORPORATE GOVERNANCE REPORT
45
Corporate Governance Report
USE OF PROCEEDS FROM INITIAL PUBLIC OFFERING (“IPO”)
(Rule 1204(22) of the Catalist Rules)
As at 29 February 2016, 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
(2,670)
17,330
Expansion of business scope via
investments, acquisitions and
strategic alliances
7,000
–
7,000
General working capital
9,400
(4,000)
5,400
IPO Expenses
3,600
(3,490)
110
Total
40,000
(10,160)
29,840
General working capital of S$4 million utilised for the purchase of materials for trading purposes.
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.
