LASSETERS INTERNATIONAL HOLDINGS LIMITED
Company No: 200402223M
MONTHLY VALUATION OF ASSETS AND UTILISATION OF CASH
The Board of Directors (the "Board") of Lasseters International Holdings Limited (the "Company") refers to the circular issued to the shareholders of the Company dated 1 October 2021 (the "Circular") in relation to the Proposed Disposal (as defined in the Circular) and the announcements released on the SGXNET on 18 October 2021, 20 October 2021 and 22 October 2021 in connection with the completion of the Proposed Disposal, the Company's cash company status and the suspension in trading of the Company's shares (the "Previous Announcements"). Unless otherwise defined, all capitalised terms used herein shall bear the same meanings as ascribed to them in the Previous Announcements and the Circular.
The Board wishes to announce the following pursuant to Rule 1017(1)(b) of the Singapore Exchange Securities Trading Limited Listing Manual Section B: Rules of Catalist. All figures provided in this announcement have not been reviewed or audited by the Company's auditors.
- Monthly valuation of assets as at 31 October 2021 are as follows:
AUD '000 | |
Assets | |
Property, plant and equipment | 5 |
Right-of-use assets | 66 |
Investment in joint venture | 1,991 |
Inventories | 14 |
Trade and other receivables | 15,334 |
Cash and bank balances | 27,262 |
Escrow account (Note) | - |
44,672 | |
Less: Liabilities | |
Trade and other payables | 6,849 |
Lease liabilities | 56 |
Current and deferred tax liabilities | 8,906 |
Net assets | 28,861 |
Note: The Company is in the midst of opening an escrow account with a financial institution licensed and approved by the Monetary Authority of Singapore to place 90% of its existing cash and the net proceeds from the Proposed Disposal (as detailed in clause 2.5 of the Circular) in the escrow account.
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- The Company's utilisation of cash for the period 21 October 2021 (following completion of the Proposed Disposal on 20 October 2021) to 31 October 2021 are as follows:
AUD '000 | |
Opening balance as at 21 October 2021 | 32,762 |
Add: | |
Receipts from trade and other receivables | 219 |
Less: | |
Partial repayment of bank borrowings, trade and other | |
payables, estimated expenses and overheads | 5,719 |
Closing balance as at 31 October 2021 | 27,262 |
The closing balance as at 31 October 2021 is before settling outstanding liabilities of AUD15.81 million.
BY ORDER OF THE BOARD
DATO' JAYA J B TAN
Non-Executive Chairman
30 November 2021
This announcement has been reviewed by the Company's sponsor, Stamford Corporate Services Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.
The contact person for the Sponsor is Mr Bernard Lui, Telephone number: 6389 3000 Email: Bernard.lui@morganlewis.com
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Lasseters International Holdings Ltd. published this content on 30 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2021 09:10:06 UTC.