266 KENANGA INVESTMENT BANK BERHAD INTEGRATED ANNUAL REPORT 2025 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2025 28. (II) TREASURY SHARES Group and Bank Number of Ordinary Shares Amount 2025 ‘000 2024 ‘000 2025 RM’000 2024 RM’000 At 1 January 7,458 11,693 7,441 11,739 Share buy-back 817 620 696 576 Transfer to staff pursuant to ESS exercise (699) (4,855) (691) (4,874) At 31 December 7,576 7,458 7,446 7,441 The shareholders of the Bank, via an ordinary resolution passed at the Annual General Meeting held on 30 May 2024, had approved its plan to purchase its own shares up to 10% of the total number of issued shares of the Bank. During the financial year, the Bank bought back 816,700 (2024: 620,000) ordinary shares at an average price of RM0.853 (2024: RM0.929) from the open market. The share buy-back transactions were financed by internally generated funds. As at 31 December 2025, the total number of shares held as treasury shares in accordance with the provisions of Section 127 of the Companies Act 2016 was 7,576,000. Accordingly the adjusted issued and paid-up share capital of the Bank (excluding 7,576,000 treasury shares) as at 31 December 2025 was RM246,387,934 (2024: RM246,392,920) comprising 728,186,599 (2024: 728,304,799) shares. 29. RESERVES Note Group Bank 2025 RM’000 2024 RM’000 2025 RM’000 2024 RM’000 Non-distributable: Capital reserve 88,938 88,938 153,863 153,863 Fair value reserve (a) 98 9,552 7,503 309 Exchange reserve (b) 13,636 25,062 - - Regulatory reserve (c) 17,788 16,748 17,788 16,748 ESS reserve 219 448 219 448 120,679 140,748 179,373 171,368 Distributable: Retained profits 721,396 730,701 615,257 628,109 842,075 871,449 794,630 799,477 The nature and purpose of each category of reserves are as follows: (a) Fair value reserve is in respect of unrealised fair value gains and losses on financial investments at FVOCI, net of tax.
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