Dagang NeXchange Berhad Annual Report 2019

CORPORATE ACCOUNTABILITY annual report 2019 69 1. UTILISATIONOF PROCEEDS FROMCORPORATE PROPOSALS There were no proceeds raised from corporate proposals during the financial year. 2. AUDIT AND NON-AUDIT FEES During the financial year, the total audit and non-audit fees incurred by the Company and the Group are as follows:- Company Group (RM’000) (RM’000) Audit Fees 110 368 Non-Audit Fees 15 115 3. RECURRENT RELATED PARTY TRANSACTIONS During the financial year 2019, the Company did not enter into any recurrent related party transaction that requires the shareholders’ mandate. 4. MATERIAL CONTRACTS Save as disclosed in the Audited Financial Statements for the year ended 31 December 2019, there were no material contracts entered into by the Company and its subsidiaries involving the interests of Directors, chief executive who is not a director or major shareholders, either still subsisting at the end of the financial year ended 31 December 2019 or entered into since the end of the previous financial year. 5. CONTRACTS RELATING TO LOANS During the financial year, there were no material contracts relating to loans entered into by the Company and its subsidiaries involving the Directors, chief executive who is not a director or major shareholders. 6. ESOS The Employees’ Share Option Scheme (“ESOS”) implemented on 14 September 2016 is the only ESOS in existence during the financial year ended 31 December 2019. During the financial year, a total of 55,000 new ordinary shares were issued and allotted pursuant to the exercise of the ESOS Options. Brief details on the number of ESOS Options granted, exercised, forfeited and outstanding since commencement on 14 September 2016 to 31 December 2019 are set out in the tables below:- For the period from 14 September 2016 to 31 December 2017 Number of Options (’000) Description Grand Total Directors and Chief Executive Granted 38,892 7,500 Exercised (22,481) (2,500) Forfeited (170) - Outstanding 16,241 5,000 For the period from 1 January 2018 to 31 December 2018 Number of Options (’000) Description Grand Total Directors and Chief Executive Granted - - Exercised (2,663) - Forfeited (56) - Outstanding 13,522 5,000 For the period from 1 January 2019 to 31 December 2019 Number of Options (’000) Description Grand Total Directors and Chief Executive Granted - - Exercised (55) - Forfeited (2,550) (2,250) Outstanding 10,917 2,750 Percentages of options applicable to Directors and Senior Management under the ESOS during the financial year and since its commencement up to the financial year ended 31 December 2019 are set out below: Percentage Directors and Senior During the Since commencement Management financial year up to 31 December 2019 (i) Aggregate maximum allocation - 58% (ii) Actual options granted - 54% The Non-Executive Directors of the Company are not eligible to participate in the ESOS. ADDITIONAL COMPLIANCE INFORMATION