(For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcement made on 19 November 2020.)
The Board of Directors of PARLO wishes to announce that the expected timeframe for the utilisation of proceeds from the Proposed Disposal is as follows:-
Utilisation
|
Percentage allocation
|
RM’000
|
Expected timeframe for utilisation
|
%
|
Payment of salaries to staff of the Group
|
60
|
1,380
|
Within 6 months from completion date
|
Operating expenses and administrative expenses such as utilities, rental costs, transportation costs, marketing costs and other miscellaneous items(1)
|
40
|
920
|
Within 6 months from completion date
|
Total
|
100
|
2,300
|
|
Note:-
(1) The actual breakdown of these expenses cannot be determined at this juncture as it will depend on the actual operating and administrative requirements of the Group at the relevant time.
This announcement is dated 25 November 2020.