PRG Holdings Berhad Annual Report 2017

• PRG HOLDINGS BERHAD 60 DIRECTORS’ REPORT The Directors have pleasure in submitting their report and the audited financial statements of the Group and of the Company for the financial year ended 31 December 2017. PRINCIPAL ACTIVITIES The Company is principally engaged in investment holding and the provision of management services. The principal activities of the subsidiaries are set out in Note 9 to the financial statements. There have been no significant changes in the nature of these activities during the financial year. RESULTS Group Company RM’000 RM’000 Profit for the financial year 10,842 35,591 Attributable to: Owners of the parent 4,358 35,591 Non-controlling interests 6,484 - 10,842 35,591 DIVIDENDS Dividends paid, declared or proposed since the end of the previous financial year were as follows: Company RM’000 In respect of financial year ended 31 December 2016: Final single tier dividend of 0.50 sen per ordinary share, paid on 28 July 2017 1,490 The Directors do not recommend the payment of any final dividend in respect of the current financial year. RESERVES AND PROVISIONS There were no material transfers to or from reserves or provisions during the financial year other than the effects of adoption of the Companies Act 2016 as disclosed in Note 18 to the financial statements. ISSUE OF SHARES AND DEBENTURES During the financial year, the issued and paid-up share capital of the Company was increased from 298,220,374 to 302,488,174 by way of the issuance of 4,267,800 new ordinary shares pursuant to the exercise of Warrants 2014/2019 at an exercise price of RM0.375 per ordinary share for cash. The newly issued shares rank pari passu in all respects with the existing shares of the Company. There were no other issues of shares during the financial year. The Company did not issue any debentures during the financial year.