Ni Hsin Berhad Annual Report 2017

Directors’ interests in shares The interests and deemed interests in the ordinary shares and warrants over shares of the Company and of its related corporations (other than wholly-owned subsidiaries) of those who were Directors at financial year end (including the interests of the spouses or children of the Directors who themselves are not Directors of the Company) as recorded in the Register of Directors’ Shareholdings are as follows: Number of ordinary shares At 1.1.2017/ date of appointment Bought Sold At 31.12.2017 Interests in the holding company: Datuk Tan Choon Hwa - own 1,188,000 - (1,188,000) - Sofiyan Bin Yahya - own 2,600,000 - - 2,600,000 By virtue of their interests in the shares of the Company, the above Directors are also deemed interested in the shares of the subsidiaries during the financial year to the extent that the Company has an interest. None of the other Directors holding office at 31 December 2017 had any interest in the ordinary shares and options over shares of the Company and of its related corporations during the financial year. Directors’ benefits Since the end of the previous financial year, no Director of the Company has received nor become entitled to receive any benefit (other than those fees and other benefits included in the aggregate amount of remuneration received or due and receivable by Directors as shown in the financial statements or the fixed salary of a full time employee of the Company or of related corporations) by reason of a contract made by the Company or a related corporation with the Director or with a firm of which the Director is a member, or with a company in which the Director has a substantial financial interest. There were no arrangements during and at the end of the financial year which had the object of enabling Directors of the Company to acquire benefits by means of the acquisition of shares in or debentures of the Company or any other body corporate. Issue of shares and debentures During the financial year, the Company issued 22,447,300 new ordinary share of RM0.20 each for cash arising from the exercise of warrants at exercise price of RM0.20 per ordinary share. There were no other changes in the issued and paid-up capital of the Company during the financial year. There were no debentures issued during the financial year. Treasury shares The repurchased shares are held as treasury shares and carried at cost. The number of outstanding shares in issue after deducting treasury shares held at the financial year end is 236,851,410 (2016: 217,480,410) ordinary shares of RM0.20 each. Treasury shares have no rights to voting, dividends and participation in other distribution. The details of shares repurchased during the financial year is disclosed in Note 11 to the financial statements. Options granted over unissued shares No options were granted to any person to take up unissued shares of the Company during the financial year. At an extraordinary general meeting held on 18 May 2016, the Company’s shareholders approved the establishment of an ESOS of not more than 15% of the issued capital of the Company to eligible Directors and employees of the Group at any point in time during the tenure of the ESOS. Directors’ report for the year ended 31 December 2017 (continued) Annual Report 2017 39