Frontken Corporation Berhad 200401012517 (651020-T) • A N N U A L R E P O R T 2 0 2 1 131 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 21. SHARE CAPITAL The Group/The Company 2021 2020 2021 2020 Number of Shares RM RM Issued and fully paid-up At 1 January 1,053,435,130 1,053,435,130 118,925,352 118,925,352 Issuance of new shares, pursuant of bonus issue (b)(i) 526,717,545 - - - Share issuance expenses (b)(ii) - - (484,307) - At 31 December 1,580,152,675 1,053,435,130 118,441,045 118,925,352 (a) The holders of ordinary shares (except treasury shares) are entitled to receive dividends as and when declared by the Company and are entitled to one vote per ordinary share at meetings of the Company. The ordinary shares have no par value. (b) The Company increased its issued and fully paid-up number of ordinary shares from 1,053,435,130 to 1,580,152,675 by way of:- (i) Issuance of 526,717,545 bonus shares at no consideration together with 524,137,195 free detachable warrants on the basis of 1 bonus share together with 1 warrant for every 2 existing ordinary shares held on 28 April 2021. (ii) An amount of RM484,307 was utilised out of share capital for corporate exercise expenses. The new ordinary shares issued rank pari passu in all respects with the existing ordinary shares of the Company. 22. TREASURY SHARES The Group/The Company 2021 2020 2021 2020 Number of Shares RM RM At 1 January 5,466,600 5,466,600 663,237 663,237 Disposal (305,900) - (35,558) - Purchase 1,460,200 - 4,120,170 - Bonus issue 2,580,350 - - - At 31 December 9,201,250 5,466,600 4,747,849 663,237 During the financial year, the Company sold 305,900 of its treasury shares at an average price of RM5.43 per share in the open market and repurchased 1,460,200 of its ordinary shares from the open market at an average price of RM2.82 per share. The shares purchased are being held as treasury shares in accordance with Section 127(6) of the Companies Act 2016 and are presented as a deduction from total equity. As at 31 December 2021, the Company held 9,201,250 (2020: 5,466,600) treasury shares at a carrying amount of RM4,747,849 (2020: RM663,237). As at 31 December 2021, the number of outstanding ordinary shares in issue after the set-off of 9,201,250 (2020: 5,466,600) treasury shares held by the Company is 1,570,951,425 (2020: 1,047,968,530) ordinary shares.
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