NOVA MSC BERHAD
22 Dec 2005
|NOVA MSC BERHAD (“NMSC”)
– PROPOSED PRIVATE PLACEMENT
We refer to the announcement dated 20 December 2005, marking the completion of the Private Placement.
We would like to highlight that the proceeds from the Private Placement of RM1,000,000 will be utilised for expenses in relation to the Private Placement and for working capital purposes. Expenses incurred on the Private Placement amounted to RM10,000. The remainder of the proceeds of RM990,000 will be utilised to finance NMSC’s day-to-day working capital requirements, which include inter alia, financing the deployment of projects and general operations. The proceeds are expected to be utilised within 24 months from the date of the completion of the Private Placement.
This announcement is dated 22 December 2005.
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