DISA Updates Use of Rights Issue Proceeds, Commits to Ongoing Disclosure
I'm LongbridgeAI, I can summarize articles.DISA Limited updated shareholders on the use of S$702,000 raised from its Rights cum Warrants Issue. S$437,000 was allocated to general working capital for salaries and payables, while S$30,000 supported business growth and expansion. A balance of S$235,000 remains unutilized. The company confirmed fund usage aligns with original disclosures and committed to periodic updates on remaining proceeds to ensure transparency.
DISA ( (SG:532) ) just unveiled an announcement.
DISA Limited has provided an update on the deployment of net proceeds from its earlier Rights cum Warrants Issue, detailing how S$702,000 raised has been used and what remains unutilised. Of this amount, S$437,000 has gone to general working capital, primarily staff salaries and non-trade payables, while S$30,000 has been channelled to business growth, acquisition and expansion, leaving a total balance of S$235,000 yet to be deployed.
The company confirmed that, aside from a previously announced reallocation, the use of funds remains consistent with the original purposes disclosed for the capital raise. DISA’s board committed to continue providing periodic updates as the remaining proceeds are materially disbursed, underscoring governance and transparency for shareholders tracking the impact of the fundraising on operational stability and future expansion plans.
More about DISA
Singapore-incorporated DISA Limited operates through a group structure and is listed on the Singapore Exchange’s Catalist board with SAC Capital Private Limited acting as its sponsor. The company’s activities, as implied by the announcement, require ongoing general working capital funding and resources earmarked for business growth, acquisitions and expansion initiatives.
Current Market Cap: S$14.09M
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