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OTHERS ARK RESOURCES HOLDINGS BERHAD ("ARK" OR "COMPANY") - QUARTERLY UPDATES ON THE STATUS OF UTILISATION OF PROCEEDS FROM PRIVATE PLACEMENT
ARK RESOURCES HOLDINGS BERHAD
Type
Announcement
Subject
OTHERS
Description
ARK RESOURCES HOLDINGS BERHAD ("ARK" OR "COMPANY") - QUARTERLY UPDATES ON THE STATUS OF UTILISATION OF PROCEEDS FROM PRIVATE PLACEMENT
Further to the announcements on 1 December 2025 and 27 February 2026, the Board of Directors wishes to announce that out of the gross proceeds of approximately RM1,945,320,000 raised from the Private Placement, RM614,000.00 has been utilised, representing approximately 31.57% of the gross proceeds.
The utilisation of the proceeds raised from the Private Placement as mentioned above is stated as below: -
Purpose
Details
Proposed utilisation (RM'000)
Actual utilisation (RM'000)
Balance fund (RM'000)
Expected timeframe for utilisation
Total % utilised
Establishment of a new corporate office
Interior design and carpentry works for show unit
1,205
514
691
Within 12 months
42.66%
Working Capital (*)
Not yet utilised
640
0
640
Within 12 months
0.00%
Estimated expenses for the proposed private placement
Fees payable to the relevant authorities, advisory and placement fees as well as other miscellaneous expenses incurred pursuant to the Proposed Private Placement.
100
100
0
Immediate
100.00%
1,945
614
1,331
(#)
31.57%
Notes:
(#) The proceeds have been partially utilised in accordance with the utilisation of proceeds as disclosed in the Private Placement announcement and the balance is retained in the bank account of the Group.
Capitalised terms used herein, unless otherwise defined, shall have the meanings as described to them in the announcements dated 11 August 2025, 27 August 2025, 10 September 2025, 12 September 2025, 17 November 2025, 1 December 2025 and 27 February 2026 in relation to the Private Placement.
(*) Excess proceeds raised were allocated to working capital as disclosed in the Private Placement announcement dated 11 August 2025 and the working capital is spare for the recruitment of new employees, administrative and marketing expenses of the new project expected to be launch in 2027.