The estimated gross proceeds arising from the Public Issue of approximately RM20.6 million shall accrue entirely to us and will be utilised in the following manner:

Utilisation of proceeds Estimated timeframe for (1)utilisation RM'000 %
Capital expenditure 24 months 8,100 39.3
Enhancement of revPAY and expansion of IT team 24 months 4,040 19.6
Repayment of bank borrowings 3 months 2,500 12.1
Business expansion 24 months 1,500 7.3
Working capital 24 months 1,773 8.6
Listing expenses Immediately 2,700 13.1
Total   20,613 100.0

(1) From the date of listing of our Shares.

* Further details of the utilisation of proceeds are set out in Section 4.10 from page 29 to page 32 of Revenue Group Berhad’s Prospectus dated 11 June 2018.