167 GHL SYSTEMS BERHAD 199401007361 (293040-D) ANNUAL REPORT 2022 7. Direct and Indirect Interests of the Directors and Substantial Shareholders (Cont’d) Director Before the Proposed Shares Buy-Back After the Proposed Shares Buy-Back *(a) Direct Indirect Direct Indirect No of shares % No of shares % No of shares % No of shares % Loh Wee Hian 54,426,551 4.47 60,999,361* 5.34 54,426,551 5.30 60,999,361* 5.94 Mohamed Rashdi Bin Mohamed Ghazalli - - - - - - - - Dato’ Chan Choy Lin - - - - - - - - Matteo Stefanel - - - - - - - - Richard Henry Phillips - - - - - - - - Sean S Hesh - - - - - - - - Tan Lye Sim - - - - - - - - Kung Lee See - - - - - - - - Notes: *(a) Assuming that 10% of the issued and paid up capital is purchased and retained as treasury shares. * Deemed interested by virtue of his interest in Tobikiri Capital Ltd pursuant to Section 8 of the Companies Act 2016. 8. Effects of Proposed Shares Buy-Back Assuming that the Company buys back up to 114,149,984 GHL Shares representing 10% of its issued and paidup share capital as at 29 March 2023 and such shares purchased are cancelled or alternatively be retained as treasury shares or both, the financial effects of the Proposed Shares Buy-Back on the share capital of the Company, net assets, working capital, earnings and dividends of GHL are as follows: 8.1 Share Capital In the event that all GHL shares purchased are cancelled, the Proposed Share Buy-Back will result in the issued and paid up share capital of GHL as at 29 March 2023 to be reduced from RM351,485,304 comprising 1,141,499,842 GHL Shares to RM316,336,774 comprising 1,027,349,858 GHL Shares. It is not expected to have any effect on the issued and paid up capital if all GHL Shares purchased are to be retained as treasury shares. The effect of the Proposed Shares Buy-Back on the issued and paid up share capital of GHL are illustrated below: No of Shares RM Issued and paid up share capital as at 31 December 2022 1,141,499,842 351,485,304 Issued and paid up share capital as at 29 March 2023 1,141,499,842 351,485,304 After share purchase and cancellation 1,027,349,858 # 316,336,774 Notes: # Assuming up to 10% of the issued and paid up capital of GHL or 114,149,984 GHL Shares are purchased and cancelled. STATEMENT TO SHAREHOLDERS IN RELATION TO THE PROPOSED RENEWAL OF AUTHORITY FOR THE COMPANY TO PURCHASE ITS OWN ORDINARY SHARES CONT’D
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