Registration No. 200301030845 (633265-K) - 106 - 20. Share Capital (Cont’d) The Company undertook Share Consolidation involving the consolidation of every 10 existing shares in the Company into 1 ordinary share (“Consolidated Shares”), resulting in the reduction in the number of shares from 4,990,594,887 ordinary shares to 499,059,412 Consolidated Shares. Further, the existing number of 1,663,531,629 Warrants B will be adjusted to 166,353,160 Consolidated Warrants B pursuant to the Share Consolidation. The Share Consolidation has been completed following the listing of and quotation for 499,059,412 Consolidated Shares and 166,353,160 Consolidated Warrants B on the Main Market of Bursa Malaysia Securities Berhad on 12 June 2024. The holders of ordinary shares are entitled to receive dividends as declared from time to time, and are entitled to one vote per share at meetings of the Company. All ordinary shares rank equally with regards to the Company’s residual assets. 21. Warrant Reserve 30.6.2024 31.12.2022 RM RM At 1 January 2023/2022 - - Add: Right issue with Warrants 38,864,810 - At 30 June/31 December 38,864,810 - Group and Company The warrant reserve represents the reserve arising from the rights issue with free detachable warrants which is determined based on the estimated fair value of the warrants immediately upon the listing and quotation thereof. The Company had on 13 March 2024 issued 1,663,531,629 Warrants B in conjunction with its renounceable rights issue exercise. The warrants are constituted by a deed poll dated 26 January 2024 (“Deed Poll”). 183 DESTINI BERHAD ANNUAL REPORT 2024
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