ENRA Group Berhad Annual Report 2020

ENRA Group Berhad - Annual Report 2020 110 NOTES TO THE FINANCIAL STATEMENTS 31 March 2020 18. SHARE CAPITAL Group and Company 2020 2019 Number of shares ’000 Amount RM’000 Number of shares ’000 Amount RM’000 Issued and fully paid ordinary shares with no par value At beginning/end of the financial year 136,208 144,744 136,208 144,744 The owners of the Company are entitled to receive dividends as and when declared by the Company and are entitled to one (1) vote per ordinary share at meeting of the Company. All ordinary shares rank pari passu with regard to the residual assets of the Company. 19. REDEEMABLE CONVERTIBLE PREFERENCE SHARES Group 2020 2019 Number of shares ’000 Amount RM’000 Number of shares ’000 Amount RM’000 Equity component of redeemable convertible preference share (“RCPS”) with no par value At beginning/end of the financial year 800 2,886 800 2,886 The carrying amount of the liability component of RCPS at the reporting date is arrived at as follow: Group 2020 RM’000 2019 RM’000 Face value of RCPS 8,096 8,096 Less: Equity component (2,886) (2,886) Liability component at initial recognition 5,210 5,210 At beginning of the financial year 5,580 703 Issued during the year - 4,561 Unwinding of discount 426 316 At end of the financial year 6,006 5,580 On 2 March 2017, ENRA Labuan Sdn. Bhd. (“ELSB”), a wholly-owned direct subsidiary of the Company, had entered into a Subscription Agreement with a third party subscriber for the issuance and subscription of 800,000 Redeemable Convertible Preference Shares Series A (“RCPS-A”) at the subscription price of RM10.12 per RCPS-A amounting to RM8,096,000. ELSB shall utilise the said subscription amount solely for the purpose of or in relation to their acquisition of land (that is to be reclaimed) in Labuan.