Eneco Energy (SG:R14) has released an update.
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Eneco Energy Limited has updated shareholders on the reallocation and usage of funds raised from their recent Placement Exercise. The company has redirected a portion of the proceeds initially intended for growth and loan repayment to meet its working capital needs, including professional fees, staff expenses, and other overheads. As a result, a significant balance of the proceeds remains unutilized, earmarked for future business development and expansion.
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