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SEE HUP SENG LIMITED
Annual Report 2012
25
Use of Proceeds
The Company refers to the announcements made on 19 October 2009 and 13 June 2012 relating to the Warrants Issue
and wishes to provide an update on the net proceeds from the Warrants Issue and exercise of Warrants as follows:
Amount raised Amount utilised
Net Proceeds (S$’000) (S$’000)
(i) Warrants Issue 1,630 1,630
(ii) Exercise of Warrants 5,481 5,476
Total 7,111 7,106*
* The Company has applied net proceeds of S$7,106,000 arising from the Warrants Issue and exercise of the Warrants for the Group’s investments
in energy drilling and property development businesses in Singapore.
The remaining balance of net proceeds of S$5,000 from the exercise of warrants has been placed in the bank pending disbursement.