61 GHL SYSTEMS BERHAD 199401007361 (293040-D) ANNUAL REPORT 2022 DIRECTORS’ INTERESTS (Cont’d) The Directors holding office at the end of the financial year and their beneficial interests in ordinary shares and options over ordinary shares of the Company and of its related corporations during the financial year ended 31 December 2022 as recorded in the Register of Directors’ Shareholdings kept by the Company under Section 59 of the Companies Act 2016 in Malaysia were as follows: (continued) * Indirect interest by virtue of the Section 59(11)(c) of the Companies Act 2016 held through Tobikiri Capital Limited (60,999,361 ordinary shares). Number of ordinary shares of PHP100 each Balance as at 1.1.2022 Bought Sold Balance as at 31.12.2022 Shares in subsidiaries, GHL Systems Philippines, Inc. Sean S Hesh 1 - - 1 GHL Electronic Payments Inc. Sean S Hesh 1 - - 1 GHL Philippines Financing Services Inc Sean S Hesh 1 - - 1 None of the other Directors holding office at the end of the financial year held any interest in ordinary shares and options over ordinary shares of the Company and of its related corporations during the financial year. The shares are held for and on behalf of the Company. DIRECTORS’ BENEFITS Since the end of the previous financial year, none of the Directors have received or become entitled to receive any benefit (other than those benefits included in the aggregate amount of remuneration received or due and receivable by the Directors as shown in the financial statements) by reason of a contract made by the Company or a related corporation with the Director or with a firm of which the Director is a member, or with a company in which the Director has a substantial financial interest other than those as disclosed in Note 32 to the financial statements. There were no arrangements during and at the end of the financial year, to which the Company is a party, which had the object of enabling the Directors to acquire benefits by means of the acquisition of shares in or debentures of the Company or any other body corporate. ISSUE OF SHARES AND DEBENTURES The Company did not issue any new shares or debentures during the financial year. EXECUTIVES’ SHARE SCHEME The ESS (“ESS2013”) of the Company came into effect on 30 August 2013 to 29 August 2018 and subsequently extended for a period of five (5) years until 29 August 2023. On 25 August 2021, ESS2013 was terminated and a new ESS scheme (“ESS2021”) of the Company was established and came into effect and shall be in force for a period of five (5) years until 24 August 2026 (“the scheme period”). The main features of the ESS2021 are as follows: DIRECTORS’ REPORT CONT’D
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