Ni Hsin Berhad Annual Report 2017

11. Share capital and reserves 11.1 Share capital Group and Company Number Number Amount of shares Amount of shares 2017 2017 2016 2016 RM’000 ’000 RM’000 ’000 Ordinary shares, issued and fully paid: At 1 January 47,671 238,354 47,320 236,600 Exercise of warrant 4,489 22,447 351 1,754 Adjustments for effects of Companies Act 2016 1,820 - - - At 31 December 53,980 260,801 47,671 238,354 11.2 Treasury shares The shareholders of the Company, by a special resolution passed in a general meeting held on 23 June 2017, approved the Company’s plan to repurchase its own shares. The Directors of the Company are committed to enhancing the value of the Company to its shareholders and believe that the repurchase plan can be applied in the best interests of the Company and its shareholders. For the financial year ended 31 December 2017, the Company repurchased 3,076,300 units of its issued share capital from the open market. The average price paid for the shares repurchased was RM0.25 per share including transaction costs, and the repurchase transactions were financed by internally generated funds. The shares repurchased are held as treasury shares. Details of the share buy-back during the financial year were as follows: Average repurchased price Highest repurchased price Lowest repurchased price Number of treasury shares Total consideration paid 2017 RM RM RM repurchased RM June 0.244 0.244 0.244 250,300 61,518 August 0.259 0.260 0.255 700,000 181,383 September 0.250 0.250 0.250 300,000 75,576 November 0.269 0.275 0.255 926,000 249,095 December 0.230 0.230 0.225 900,000 207,096 2016 January 0.295 0.295 0.295 500,000 148,164 March 0.334 0.346 0.320 1,895,000 632,152 April 0.289 0.300 0.275 2,000,000 577,487 May 0.277 0.280 0.270 732,000 202,685 June 0.260 0.260 0.260 16,900 4,443 August 0.285 0.285 0.283 669,700 191,201 November 0.265 0.265 0.265 109,000 29,107 There were no treasury shares resold during the financial year. 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. Notes to the financial statements (continued) Annual Report 2017 70