FGV Annual Report 2012

237 F i n a n c i a l S t a t e m e n t s 2 0 1 2 P e n y a t a K e w a n g a n Additional Disclosure UTILISATION OF PROCEEDS The gross proceeds received from the Initial Public Offering of RM4,459 million in conjunction with the Company’s listing on the Main Market of Bursa Securities on 28 June 2012 have been utilised as at 31 December 2012 in the following manner: DETAIL OF USE OF PROCEEDS ESTIMATED TIMEFRAME FOR UTILISATION UPON LISTING RM’000 AMOUNT UTILISED AS AT 31 DECEMBER 2012 RM’000 BALANCE OF IPO PROCEEDS AS AT 31 DECEMBER 2012 RM’000 Acquisition of plantation assets within 3 years 2,190,000 – 2,190,000 Selective acquisitions of oil and fats, manufacturing and logistics businesses within 3 years 840,000 – 840,000 Construction or acquisitions of mills and refineries within 3 years 780,000 – 780,000 Loan repayment for our overseas operation within 6 months 260,000 (260,000) – Capital expenditures for increases in efficiency, as well as extension of capabilities within 2 years 100,000 (59,330) 40,670 Working capital requirements, general corporate purposes within 6 months 129,000 (129,000) – Estimated listing expenses within 6 months 160,000 (160,000) – Total Gross Proceeds 4,459,000 (608,330) 3,850,670 SHARE BUY-BACK The Company did not make any proposal for share buy-back during the financial year ended 31 December 2012. OPTION, WARRANTS OR CONVERTIBLE SECURITIES The Company did not issue any options, warrants or convertible securities during the financial year ended 31 December 2012. DEPOSITORY RECEIPT PROGRAMME The Company did not sponsor any depository receipt programme during the financial year ended 31 December 2012. MATERIAL SANCTIONS AND/OR PENALTIES There were no material sanctions and/or penalties imposed on the Company, its subsidiaries, Directors or Management, by the relevant regulator bodies during the financial year ended 31 December 2012. VARIATION IN RESULT There were no profit estimation, forecasts or projections made or released by the Company during the financial year ended 31 December 2012.