Date: 05 January 2018

OTHERS KRONOLOGI ASIA BERHAD ("KAB" OR THE "COMPANY") - EXTENSION OF TIME FRAME FOR THE UTILISATION OF PROCEEDS RAISED FROM THE INITIAL PUBLIC OFFERING


Type Announcement
Subject OTHERS
Description KRONOLOGI ASIA BERHAD ("KAB" OR THE "COMPANY") - EXTENSION OF TIME FRAME FOR THE UTILISATION OF PROCEEDS RAISED FROM THE INITIAL PUBLIC OFFERING

We refer to our announcements dated 27 November 2014, 11 December 2014, 22 July 2016 and 29 July 2016 in relation to the Initial Public Offering ("IPO") and Variation of the Proceeds Utilisation ("Announcements"). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

 

The Company wishes to announce that the proceeds raised from the IPO have been fully utilised by the Company as planned save for the amount of RM683,000 allocated for research and development expenditure.

 

The Board of Directors of KAB ("Board") after having considered the rapid changes in technology and frequent introduction of new and advanced solutions, has resolved to extend the time frame for the utilisation of the proceeds raised from the IPO for another 12 months period until 15 December 2018 ("Revised Time Frame") to provide additional time for the Group to explore and keep up with the state-of-the-art technology and solutions for the purpose of continuous development and improvement of Enterprise Data Management solutions.

 

Please refer to the attachment for further details.

 


This announcement is dated 5 January 2018.



 


ATTACHMENT

- Announcement_Revised time frame_Utilisation of Proceeds.pdf

Back