MKH Annual Report 2020

188 FINANCIAL STATEMENTS ANNUAL REPORT 2020 27. SHARE CAPITAL The Group and The Company Number of shares Amount Share capital (issued and fully paid-up) Treasury shares Share capital (issued and fully paid-up) RM Treasury shares RM 2020 At beginning of year 586,548,168 (7,513,600) 654,458,655 (9,637,077) Share buy back - (1,618,700) - (1,475,201) At end of year 586,548,168 (9,132,300) 654,458,655 (11,112,278) 2019 At beginning of year 586,548,168 (4,038,600) 654,458,655 (5,437,937) Share buy back - (3,475,000) - (4,199,140) At end of year 586,548,168 (7,513,600) 654,458,655 (9,637,077) (a) Share capital 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. All ordinary shares rank equally with regard to the Company’s residual assets. (b) Treasury shares Treasury shares relate to ordinary shares of the Company that are held by the Company. The amount consists of the acquisition costs of treasury shares net of the proceeds received on their subsequent sale or issuance. The Company acquired 1,618,700 (2019: 3,475,000) shares in the Company through purchases on the Bursa Malaysia Securities Berhad during the financial year. The total amount paid to acquire the shares including transaction costs was RM1,475,201 (2019: RM4,199,140) and this was presented as a component within shareholders’ equity. The directors of the Company are committed to enhancing the value of the Company for its shareholders and believe that the repurchase plan can be applied in the best interests of the Company and its shareholders. The repurchase transactions were financed by internally generated funds. The shares repurchased are held as treasury shares.