PRG Holdings Berhad Annual Report 2018

18. SHARE CAPITAL AND TREASURY SHARES (continued) (e) Warrants 2014/2019 (“Warrants”) (continued) The salient features of the Warrants are as follows (continued): (iii) The issue date of Warrants is 7 July 2014 and are valid for exercise for a period of 5 years from its issue date and will expire on 6 July 2019. Any Warrants not exercised by its expiry date will thereafter lapse and cease to be valid for any purpose; and (iv) The new shares to be issued arising from the exercise of the Warrants will, upon allotment and issuance, rank pari passu in all respects with then existing shares, save and except that the said new shares will not be entitled to any dividends, rights, allotments and/or other distributions that may be declared, made or paid, prior to the date of allotment of the said new shares. The movements in Warrants are as follows: Number of unexercised Warrants At 1 January 2018 96,277,026 Exercised (3,457,100) At 31 December 2018 92,819,926 As at 31 December 2018, unexercised Warrants of the Company are as follows: No. of Warrants over Warrants Date issued Exercise price ordinary shares expiry date 7 July 2014 RM0.375 92,819,926 6 July 2019 19. RESERVES Group Company 2018 2017 2018 2017 Note RM’000 RM’000 RM’000 RM’000 Non-distributable: Share premium (a) - - - - Warrants reserve (b) 3,713 3,851 3,713 3,851 Exchange translation reserve (c) (2,881) (3,077) - - 832 774 3,713 3,851 Distributable: Retained earnings 47,924 53,248 60,962 60,000 48,756 54,022 64,675 63,851 (a) Share premium Group and Company 2018 2017 Note RM’000 RM’000 Balance as at 1 January - 1,404 Transfer to share capital pursuant to Companies Act 2016 18(d) - (1,404) Balance as at 31 December - - 137 PRG HOLD I NGS BERHAD notes to the financial statements 31 December 2018 (continued)