OPTIONS GRANTED OVER UNISSUED SHARES No options were granted to any person to take up unissued shares of the Company during the financial year apart from the issuance of options pursuant to the ESOS. EMPLOYEE SHARE OPTION SCHEME At an extraordinary general meeting held on 1 April 2021, the shareholders of the Company approved as follows: i) establishment of a new ESOS of up to 5% of the total number of issued shares of the Company (excluding treasury shares, if any) at any point in time over the duration of the new ESOS for the eligible directors and employees of the Company and its subsidiaries (excluding dormant subsidiaries); and ii) allocation of ESOS Options to the Directors of the Company. The details of the ESOS are disclosed in Note 16 to the financial statements. Details of ESOS granted to the Directors are disclosed in the Directors’ interests section of the financial statements. WARRANTS 2016/2021 The Warrants were constituted by the Deed Poll dated 27 January 2016 (“Deed Poll”). On 1 August 2016, a total of 711,396,809 Warrants were issued by the Company. The details of the Warrants are disclosed in Note 16 to the financial statements. The Warrants have lapsed on 30 July 2021 and removed from the Main Market of Bursa Malaysia Securities Berhad on 2 August 2021. OTHER STATUTORY INFORMATION Before the financial statements of the Group and of the Company were made out, the Directors took reasonable steps to ascertain that: i) all known bad debts have been written off and that adequate allowance had been made for impairment losses on receivables, and ii) any current assets which were unlikely to be realised in the ordinary course of business have been written down to an amount which they might be expected so to realise. At the date of this report, the Directors are not aware of any circumstances: i) that would further render the amount written off for bad debts, or the additional allowance for impairment losses on receivables in the Group and in the Company inadequate to any substantial extent, or ii) that would render the value attributed to the current assets in the financial statements of the Group and of the Company misleading, or iii) which have arisen which render adherence to the existing method of valuation of assets or liabilities of the Group and of the Company misleading or inappropriate, or DAGANG NeXCHANGE BERHAD 194 DIRECTORS’ REPORT FOR THE YEAR ENDED 30 JUNE 2022 (CONTINUED)
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