44
Cordlife Group Limited
Annual Report 2016
Corporate
Governance Report
The breakdown of the use of IPO proceeds by the Group for working capital and general corporate purposes is as
follows:
Amount
Amount utilised as working capital and general corporate purposes
(S$ million)
Salaries, central provident fund contributions and other short-term benefits
1.20
Trade purchases
1.10
Legal and professional fees
0.55
Advertising and marketing expenses
0.90
Administrative expenses
0.70
Business travel expenses
0.20
Income tax and GST
0.20
Establishment of S$500 million Multicurrency Debt Issuance Programme
0.03
Issue of S$120 million 4.9% Fixed Rate Notes due 2017
1.20
Magnum Loan
0.09
CGL Acquisition
0.23
Total
6.40
As at 30 June 2016, the Group has utilised approximately S$9.2 million of the Private Placement proceeds as follows:
Estimated
percentage of
Percentage of
Estimated
gross proceeds
Amount
gross proceeds
amount
raised from the
utilised
raised from the
Intended Use of Placement Proceeds
(S$ m)
Private Placement
(S$ m)
Private Placement
Further, fund and support the Group’s
operations in connection with its enlarged
geographical footprint developed after the
Company’s initial public offering, including
funding of additional strategic investments, joint
ventures, acquisitions and/or strategic alliances
as and when opportunities materialise and are
deemed appropriate by the Board
23.5
70.1%
6.3
18.8%
General working capital
8.6
25.7%
2.3
6.9%
Expenses incurred in connection with the
Private Placement
1.4
4.2%
0.6
1.8%
33.5
100.0%
9.2
27.5%
Note:
The numbers in the table above may not exactly add due to rounding.
The breakdown of the total use of Placement proceeds by the Group for general working capital purposes is as
follows:
Amount
Amount utilised as general working capital
(S$ million)
Trade purchases
2.2
Legal and professional fees
0.1
Total
2.3
