Ni Hsin Berhad Annual Report 2018

11. Cash and cash equivalents Group Company 2018 2017 2018 2017 RM’000 RM’000 RM’000 RM’000 Deposits with licensed banks 9,200 2,694 9,180 175 Cash and bank balances 3,688 6,745 852 2,430 12,888 9,439 10,032 2,605 12. Share capital and reserves 12.1 Share capital Group and Company Number Number Amount of shares Amount of shares 2018 2018 2017 2017 RM’000 ’000 RM’000 ’000 Ordinary shares, issued and fully paid: At 1 January 53,980 260,801 47,671 238,354 Exercise of warrant 12,143 60,714 4,489 22,447 Adjustments for effects of Companies Act 2016 - - 1,820 - At 31 December 66,123 321,515 53,980 260,801 Ordinary shares The holders of ordinary shares are entitled to receive dividends as declared from time to time, and are entitled to one vote per share at meetings of the Company. 12.2 Treasury shares Treasury shares comprises cost of acquisition of the Company’s own shares. For the financial year ended 31 December 2018, the Company repurchased 4,321,800 units (2017: 3,076,300) of its issued share capital from the open market costing RM921,741 (2017: RM774,635). The average price paid for the shares repurchased was RM0.21 (2017: 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. As at 31 December 2018, the total number of treasury shares is 28,271,300 (2017: 23,949,500). 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 293,243,610 (2017: 236,851,410) ordinary shares. Treasury shares have no rights to voting, dividends and participation in other distribution. 12.3 Fair value reserve The fair value reserve comprises the cumulative net change in the fair value of available-for-sale financial assets until the investments are derecognised or impaired. The financial assets are the club memberships (Note 10.1). During the year, this reserve is reclassified to Retained earnings. 12.4 Translation reserve The translation reserve comprises all foreign currency differences arising from the translation of the financial statements of the Group entities with functional currencies other than RM, as well as from the translation of liabilities that hedge the Company’s net investment in foreign operations. Notes to the financial statements (continued) Annual Report 2018 74