Lambo Group Berhad (Lambo) has revised its proposed regularisation plan by removing the proposed variations component, leaving the plan to comprise only a proposed share capital reduction and proposed diversification.
The company announced that its board of directors decided to remove the proposed variations after a further review of the group’s working capital requirements.
Lambo said the board is of the view that the group has sufficient working capital to fund its food and beverage (F&B) business without relying on the unutilised proceeds from the total proceeds raised.
As a result, the company has resolved to retain the original allocation of the remaining unutilised proceeds and extend the timeframe for utilisation until June 2027
Lambo said the removal of the proposed variations will not alter the impact of the regularisation plan on the company’s issued share capital, substantial shareholders’ shareholding, earnings or earnings per share, as previously disclosed.
T
