TOTM LIMITED TECHNOLOGIES
(Incorporated in the Republic of Singapore)
(Company registration number 201506891C)
INVESTMENT IN PT. CAKRAWALA DATA INTEGRATION
-
- PAYMENT OF THE CONVERTIBLE LOAN AMOUNT
-
INTRODUCTION
The board of directors (the “advice“or the”Directors“) of TOTM Technologies Limited (the”Society“, with its subsidiaries, the”Group“) refers to the announcement of December 13, 2021 regarding the investment in PT. Cakravala Data Integrasi (the”Announcement“).
Capitalized terms used but not defined herein will have the meaning assigned to them in the Announcement. - PAYMENT OF THE CONVERTIBLE LOAN AMOUNT
- The Board is pleased to announce that as of the date of this announcement, in accordance with the terms and conditions of the Convertible Loan Agreement, the disbursement conditions of the Convertible Loan have been met.
- As a result, the convertible loan amount of US $ 3,750,000 (equivalent to approximately S $ 5,158,000) has been disbursed by the Company by bank transfer to CDI and the maturity date will be 2.5 years from the disbursement date (or any extension thereof as may be determined by the Company in its sole discretion).
3. UPDATE ON THE USE OF THE PRODUCTS OF THE SUBSCRIPTION EXERCISES
3.1. On the date of this announcement and in accordance with the disbursement of the Convertible Loan Amount, the remaining net proceeds and the expected use of the net proceeds from the Subscription and Offering Exercises1 are the following:
|
S $ ‘000 |
October 2020 |
June 2021 |
|
Subscription |
Placement |
|
|
Exercise |
Exercise |
|
|
Net income allocated to working capital |
1,131 – 1,508 |
2,543 – 5,085 |
|
Net proceeds used for working capital at |
(1508) |
(4,977) |
|
date of this announcement |
||
|
Net proceeds remaining for working capital at |
– |
108 |
|
date of this announcement |
||
|
Net proceeds allocated to new business |
2 262 – 2 639 |
20 340 – 22 882 |
|
Opportunities |
- “Subscription and placement exercises“include the (a) share subscription of 76,000,000 Shares which was announced on
- September 2020 and completed on October 16, 2020 (the “October 2020 subscription exercise“); and (b) the share subscription of 195,000,000 Shares which was announced on May 11, 2021 and completed on June 25, 2021 (the”June 2021 investment year“). Shareholders should note that on the date of this announcement, the net proceeds of the subscription exercise announced on November 15, 2020 and completed on January 6, 2021 (the”November 2020 subscription exercise“), the subscription exercise announced on December 13, 2020 and carried out on December 23, 2020 (the”Subscription exercise of December 2020“), and the subscription exercise announced on January 26, 2021 and completed on April 6, 2021 (the”Subscription exercise January 2021“) have been fully utilized.
1
|
S $ ‘000 |
October 2020 |
June 2021 |
|
Subscription |
Placement |
|
|
Exercise |
Exercise |
|
|
Net proceeds used for new business opportunities |
(1,752) (1) |
(17 156) (3) |
|
on the date of this announcement |
||
|
Net proceeds remaining for new business |
510 (2) |
3 184 (4) |
|
opportunities on the date of this announcement |
Remarks:
- The introductory costs related to the acquisition of IBPL, totaling S $ 2,100,000, were partially funded by the net proceeds of the October 2020 subscription exercise and the financial year November 2020 subscription. Of the S $ 2,100,000, S $ 825,000 was funded from the October 2020 subscription year, while S $ 1,275,000 was funded from the year November 2020 subscription.
- The investment amount of S $ 510,000 for the joint venture with International Biometrics Pte. Ltd. will be funded by the net proceeds of the October 2020 subscription exercise. Please refer to the Company’s December 2, 2020 announcement for defined conditions and further details.
- The acquisition of a stake in TECH5 (equivalent to approximately S $ 10,832,000 based on the spot rate of US $ 1,000: S $ 1.354 on the date of payment), the payment of professional fees and professional fees. introduction of approximately S $ 0.3 million and S $ 847,000 respectively in this regard, and the convertible loan amount of US $ 3,750,000 (equivalent of S $ 5,158,000 based on the spot rate of $ 1,000 US $: S $ 1.3755), were funded from the June 2021 investment year.
- It is intended that the net proceeds from the June 2021 investment year be used to finance other future investments and the corresponding professional fees.
.
3.2. A breakdown of the net proceeds for the October 2020 subscription exercise, the November 2020 subscription exercise, the December 2020 subscription exercise, the January 2021 subscription exercise and the fiscal year investment from June 2021 which were used for working capital is:
|
Summary of expenses: |
Working capital (S $ ‘000) |
|
Registration fees |
77 |
|
Staff costs and directors’ fees |
2,114 |
|
Finance cost or bank charges |
11 |
|
Professional fees |
4,193 |
|
Administrative expenses |
1490 |
|
Rental deposit |
143 |
|
Purchases from the supplier |
2 753 |
|
Total |
10 781 |
4. CAUTION
Shareholders, security holders and potential investors are urged to read this announcement and all past and future announcements of the Company carefully when dealing with Shares and securities of the Company. Shareholders, security holders and potential investors should consult their brokers, bank managers, lawyers or other professional advisers if in any doubt as to what action to take or when dealing with their Shares. or securities of the Company.
BY ORDER OF THE COUNCIL
Mr. Pierre Prunier
Chairman and CEO and Executive Director
December 15, 2021
This announcement has been reviewed by the Company’s sponsor, SAC Capital Private Limited (the
“Sponsor“).
This announcement has not been reviewed or approved by the Singapore Exchange Securities Trading Limited (the “Exchange“) and the Bourse assumes no responsibility for the content of this advertisement, including the accuracy of any statements or opinions made, or reports contained in this advertisement.
The contact person for the Sponsor is Ms. Charmian Lim (phone number: (65) 6232 3210) at 1 Robinson Road, # 21-00 AIA Tower, Singapore 048542.
Warning
Totm Technologies Ltd. published this content on December 15, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on December 15, 2021 05:38:09 PM UTC.
Public now 2021
|
|
|
|
|
|
|
||||
|
||||
Technical analysis trends TOTM TECHNOLOGIES LIMITED
| Short term | Mid Road | Long term | |
| Tendencies | Neutral | Neutral | Neutral |
Evolution of the income statement
