General Announcement::USE OF PROCEEDS ARISING FROM CONVERSION OF WARRANTS

Issuer & Securities

Issuer/ Manager
MDR LIMITED
Securities
MDR LIMITED - SG1N26909308 - A27
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
09-Sep-2014 18:27:31
Status
New
Announcement Sub Title
USE OF PROCEEDS ARISING FROM CONVERSION OF WARRANTS
Announcement Reference
SG140909OTHR610E
Submitted By (Co./ Ind. Name)
ONG GHIM CHOON
Designation
DIRECTOR & CHIEF EXECUTIVE OFFICER
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of mDR Limited (the 'Company') wishes to announce that the Company has utilised cash proceeds of S$2 million from conversion of warrants arising pursuant to the renounceable non-underwritten rights cum warrants issue undertaken by the Company in 2011 (the 'Conversion of Warrants') towards general working capital (for third party payments, including suppliers invoices).

The use of proceeds is in accordance with the intended use of the net proceeds as described in the Offer Information Statement dated 1 September 2011.

The balance of proceeds from the Conversion of Warrants as of to date is S$10.608 million.

Attachments

Use_of_proceeds_9September2014.pdf
Total size =76K