NOVA MSC BERHAD
23 Aug 2005
|Subject||NOVA MSC BERHAD
– PROPOSED PRIVATE PLACEMENT
We refer to the annoucement dated 18 August 2005, marking the completion of the Private Placement.
We would like to highlight that the proceeds from the Private Placement of RM1,500,000 will be utilised for expenses in relation to the Private Placement and for working capital purposes. Expenses incurred on the Private Placement amounted to RM80,500. The remainder of the proceeds of RM1,419,500 will be utilised to finance the Company’s day-to-day working capital requirements, which include, inter alia, financing the deployment of projects and the Group’s general operations. NMSC expects to utilise the said proceeds within 24 months from the date of completion of the Private Placement.
This annoucement is dated 23 August 2005.
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