ENRA Group Berhad | Annual Report 2022 145 NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2022 27. TAX EXPENSE (cONT’D) (d) Tax on each component of other comprehensive income is as follows: Group Before tax Tax effect After tax RM’000 RM’000 RM’000 Items that may be reclassified subsequently to profit or loss 2022 Foreign currency translations 50 – 50 2021 Foreign currency translations (202) – (202) 28. WARRANTS 2020/2025 On 7 January 2021, the Company listed and quoted 44,971,973 Warrants pursuant to the Issuance of Free Warrants on the basis of one (1) Warrant for every three (3) existing shares held in the Company. The Warrants are constituted by the Deed Poll dated 8 December 2020 (“Deed Poll”). Salient features of the Warrants are as follows: (a) Each Warrant entitles the registered holder thereof (“Warrant holder(s)”) to subscribe for one (1) new ordinary share in the Company at an exercise price of RM1.00 during the 5-year period expiring on 26 December 2025 (“Exercise Period”); (b) Any Warrant not exercised upon expiry of the Exercise Period will thereafter lapse and cease to be valid for any purpose; (c) The Exercise Price and/or the number of the unexercised Warrant shall, from time to time be adjusted, calculated or determined by the Board in consultation with an approved adviser appointed by the Company and certified by the auditors of the Company, in accordance with the provisions of the Deed Poll; (d) The Warrant Holders shall not be entitled to participate in any rights, allotment, dividends and/or other forms of distributions which may be declared, made or paid, where the entitlement date of which precedes the date of allotment of the new Company Shares. The Warrant Holders are not entitled to any voting rights in any general meeting of the Company or to participate in any form of distribution and/or offer of securities in the Company unless otherwise resolved by the shareholders of the Company or the Warrant Holders (or any of them) become shareholders of the Company by exercising their Warrants; and
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