OTHERS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR "THE COMPANY") PROPOSED VARIATION AND EXTENSION OF TIMEFRAME OF THE UTILISATION OF PROCEEDS RAISED FROM THE INITIAL PUBLIC OFFERING ("IPO") OF POWERWELL
| POWERWELL HOLDINGS BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | POWERWELL HOLDINGS BERHAD ("POWERWELL" OR "THE COMPANY")
PROPOSED VARIATION AND EXTENSION OF TIMEFRAME OF THE UTILISATION OF PROCEEDS RAISED FROM THE INITIAL PUBLIC OFFERING ("IPO") OF POWERWELL |
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The Board of Directors of Powerwell wishes to inform that the Company intends to seek the approval of its shareholders on the following at the forthcoming Extraordinary General Meeting of the Company:-
(i) to vary the utilisation of the balance unutilised IPO proceeds earmarked for capital expenditure to working capital; and (ii) to extend the timeframe for the use of such proceeds to up to 48 months from the listing date of the COmpany.
Further details of the above are set out in the attachment.
This announcement is dated 4 August 2022. |
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Please refer attachment below.
Announcement Info
| Company Name | POWERWELL HOLDINGS BERHAD |
| Stock Name | PWRWELL |
| Date Announced | 04 Aug 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-04082022-00060 |