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DNL Use of Proceeds Annual Progress As of 12.31.14
DNL Use of Proceeds Annual Progress As of 12.31.14
DNL Use of Proceeds Annual Progress As of 12.31.14
12, 2015
Subject: Annual Progress Report Application of IPO Proceeds as at December 31, 2014
Gentlemen:
In compliance with the Notice of Approval issued by the Philippine Stock Exchange, Inc. dated
November 16,2012 in connection with the initial public offering ("IPO") of D&L Industries, Inc. ("DNL"),
in particular condition no. 2 (a) (b) and (c) on use of proceeds, we respectfully provide the annual progress
report on the application of the IPO proceeds from January 1 to December 31, 2014.
As at December
31,2014
the proceeds from the public offering of the shares were used as follows:
Date
December 12,2012
Less: Disbursements
December 17, 2012
Description
Net Proceeds from IPO
Amount in Php
4,442,541,395
(632) 635.0703
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info@dnl.com.ph
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(450,000,000)
(991,717,494)
3,000,823,901
Date
Description
Amount
Net balance of the Proceeds from the public offering as at December 31,2012
Less: Disbursements
Various dates from
Purchase of additional production and technical
January to March 2013
equipment as disclosed in the final prospectus
Various dates from
IT systems upgrade and investments as disclosed in
January to March 2013
the final prospectus
Net balance of the Proceeds from the public offering as at March 31, 2013
Less: Disbursements
April 5, 2013
Settlement of outstanding short term bank loans with
Equitable PCI (Banco de Oro) as disclosed in the final
prospectus
Various dates from April
Purchase of additional production and technical
to June 2013
equipment as disclosed in the final prospectus
Various dates from April
IT systems upgrade and investments as disclosed in
to June 2013
the final prospectus
Net balance of the Proceeds from the public offering as at June 30, 2013
Less: Disbursements
Various dates from July to Purchase of additional production and technical
September 2013
equipment as disclosed in the final prospectus
Various dates from July to IT systems upgrade and investments as disclosed in
September 2013
the final prospectus
Various dates from July to Working capital requirements
September 2013
Net balance of the Proceeds from the public offering as at September 30, 2013
Less: Disbursements
Various dates from October Purchase of additional production and technical
to December 2013
equipment as disclosed in the final prospectus
Various dates from October IT systems upgrade and investments as disclosed in
to December 2013
the final prospectus
Net balance of the Proceeds from the public offering as at December 31, 2013
Less: Disbursements
Various dates from January Purchase of additional production and technical
to March 2014
equipment as disclosed in the final prospectus
Various dates from January IT systems upgrade and investments as disclosed in
to March 2014
the final prospectus
Net balance of the Proceeds from the public offering as at March 31, 2014
Less: Disbursements
Various dates from
Purchase of additional production and technical
April to June 2014
equipment as disclosed in the final prospectus
Various dates from April to IT systems upgrade and investments as disclosed in
June 2014
the final prospectus
Net balance of the Proceeds from the public offering as at March 31, 2014
Less: Disbursements
Various dates from
Purchase of additional production and technical
July to September 2014
equipment as disclosed in the final prospectus
Various dates from July to IT systems upgrade and investments as disclosed in
September 2014
the final prospectus
Net balance of the Proceeds from the public offering as at September 30, 2014
(632) 6350703
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info@dnl.com.ph
..Ii':
www.dnl.com.ph
in Php
3,000,823,901
(43,494,174)
(7,887,139)
2,949,442,588
(57,000,000)
(13,065,070)
(9,599,646)
2,869,777,872
(21,183,813)
(5,778,285)
(743,823,901)
2,098,991,873
(16,680,400)
(5,729,538)
2,076,581,935
(3,957,989)
(12,789,962)
2,059,833,984
(3,983,460)
(20,824,200)
2,035,026,324
(5,687,851)
(77,150,942)
1,952,187,531
Date
Description
Net balance of the Proceeds from the public offering as at September 30, 2014
Less: Disbursements
October 8,2014
Purchase of shares of Chemrez Technologies, Inc.
Various dates from
October to November
Purchase of additional production and technical
2014
equipment as disclosed in the final prospectus
Various dates from
October to November
IT systems upgrade and investments as disclosed in
2014
the final prospectus
Net balance of the Proceeds from the public offering as at December 31,2014
Amount
in Php
1,952,187,531
(1,853,491,421)
(94,811,438)
(3,884,670)
We also enclose herewith a report from the DNL's external auditor, Isla Lipana & Co., on the accuracy of
the information herein reported by us.
We trust that you find the foregoing in order. Thank you very much.
~
Alvin D. Lao
Executive Vice President and
Chief Finance Officer