EXCEL FORCE MSC BERHAD Annual Report 2020

EXCEL FORCE MSC BERHAD - ANNUAL REPORT 2020 42 TREASURY SHARES During the financial year, the Company repurchased 21,000,000 ordinary shares of its issued share capital from the open market. The average price paid for the shares repurchased was RM0.39 per share. The total consideration paid for the repurchased, including transaction costs, was RM8,119,858. The repurchased transactions were financed by internal generated funds. The shares repurchased are being held as treasury shares in accordance with Section 127(6) of the Companies Act 2016 in Malaysia. As at 31 December 2020, the Company held 56,000,000 treasury shares out of the total 615,378,375 issued ordinary shares. Further relevant details are disclosed in Note 18 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. DIRECTORS The Directors in office since the beginning of the financial year until the date of this report are: Dato’ Dr Norraesah binti Haji Mohamad* Wong Thean Soon (Alternate Director to Dato’ Dr Norraesah binti Haji Mohamad) Wong Kok Chau* Gan Teck Ban* Eng Shao Hon* Mohaini binti Mohd Yusof Datuk Mat Noor Nawi Dato’ Sri Ismail bin Ahmad (appointed on 01.07.2020) Lok Choon Hong (retired on 24.06.2020) * Director of the Company and its subsidiary companies The information required to be disclosed pursuant to Section 253 of the Companies Act 2016 in Malaysia is deemed incorporated herein by such reference to the financial statements of the respective subsidiary companies and made a part hereof. DIRECTORS’ REPORT (CONT’D)

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