DESTINI Annual Report 2020

The Directors hereby present in submitting their report together with the audited financial statements of the Group and of the Company for the financial year ended 31 December 2020. Principal Activities The principal activities of the Company are those of investment holding and provision of management services. The principal activities of its subsidiaries are disclosed in Note 6 to the financial statements. There have been no significant changes in the nature of these activities during the financial year. Financial Results Group RM Company RM Net loss for the financial year 190,184,836 12,044,937 Attributable to: Owners of the Parent 190,641,882 12,044,937 Non-controlling interests (457,046) - 190,184,836 12,044,937 Reserves and Provisions There were no material transfers to or from reserves or provisions during the financial year other than as disclosed in the financial statements. Dividends There were no dividends proposed, declared or paid by the Company since the end of the previous financial year. The Board of Directors does not recommend any dividend in respect of the current financial year. Issue of Shares and Debentures During the financial year, the Company issues : i. 50,000,000 ordinary shares pursuant to the private placement exercises at issue price of RM0.1960 per share amounting to RM9,800,000 on 13 February 2020; ii. 5 5,163,000 ordinary shares pursuant to the private placement exercises at issue price of RM0.1450 per share amounting to RM7,998,635 on 16 July 2020; iii. 60,600,000 ordinary shares pursuant to the private placement exercises at issue price of RM0.1650 per share amounting to RM9,999,000 on 30 July 2020; iv. 4 0,283,059 ordinary shares pursuant to the private placement exercises at issue price of RM0.1827 per share amounting to RM7,359,715 on 6 August 2020; and v. 1 39,000,000 ordinary shares pursuant to the private placement exercises at issue price of RM0.2200 per share amounting to RM30,580,540 on 3 December 2020. The new ordinary shares issued during the financial year rank pari passu in all respects with the existing ordinary shares of the Company. There was no issuance of debentures during the financial year. Directors’ Report ANNUAL REPORT 2020 DESTINI BERHAD 78