Ni Hsin Berhad Annual Report 2018

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 1.1.2018 Bought Sold At 31.12.2018 Interests in the holding company: Datuk Tan Choon Hwa - own - 1,888,000 - 1,888,000 Datin Ida Suzaini Binti Abdullah - own - 285,000 - 285,000 Sofiyan Bin Yahya - own 2,600,000 - - 2,600,000 None of the other Directors holding office at 31 December 2018 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 60,714,000 new ordinary shares for cash arising from the exercise of warrants at an exercise price of RM0.20 per ordinary share amounting to RM12,142,800. 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 293,243,610 (2017: 236,851,410) ordinary shares. Treasury shares have no rights to voting, dividends and participation in other distribution. On 22 March 2019, a total of 24,389,364 treasury shares amounting to RM6,824,000 were distributed as share dividend to shareholders on the basis of 1 treasury share for every 12 ordinary shares held on 26 February 2019. The details of shares repurchased during the financial year is disclosed in Note 12 to the financial statements. Directors’ report for the year ended 31 December 2018 (continued) Annual Report 2018 39