39
Report on
Corporate Governance
The above utilisation is in accordance with the intended use of proceeds of IPO as stated in the Offer
Document
.
Amount utilised for general working capital of approximately S$1
.
6 million consists of payment for (i) partial
rental cost and security deposit of approximately S$0
.
4 million in relation to the new master lease secured
for our second GreenHub Suited Offices in Jakarta and (ii) renovation cost of approximately S$1
.
2 million in
relation to new master leases secured for our Space Optimisation Business
.
The Company will continue to make periodic announcement via SGXnet on the utilisation of the balance of
the gross proceeds from the IPO as and when such proceeds are materially disbursed
.
(H) MATERIAL CONTRACTS
Save for the service agreements entered with the Executive Directors as disclosed on pages 291 to 294 in the
Offer Document
,
there was no other material contract involving the interests of any Director or controlling
shareholders of the Company which has been entered into by the Group
,
which are either still subsisting at
the end of FY2015 or if not then subsisting
,
entered into since the end of the previous financial year
.
(I) NON-SPONSOR FEES (CATALIST RULE 1204(21))
For FY2015
,
the Company paid to its sponsor
,
PrimePartners Corporate Finance Pte
.
Ltd
.
fees of S$1
,
284
,
999
as advisory services and to act as the issue manager and placement agent pursuant to the Company
’
s IPO
.
