200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 28. Share capital and treasury shares (cont'd) (a) Share capital (b) Treasury shares 29. Retained earnings 30. Other reserves (a) Foreign currency translation reserve (b) Warrants reserve The entire retained earnings of the Company as at 31 December 2024 may be distributed as dividends under single tier system. Dividends to owners of the Company and non-controlling interests are recognised in the statements of changes in equity in the period in which they are declared. The holders of ordinary shares are entitled to receive dividends as and when declared by the Company. All ordinary shares carry one vote per share without restrictions and rank equally with regard to the Company's residual assets. Treasury shares relate to ordinary shares of the Company that are held by the Company. The amount consists of the acquisition costs of treasury shares. The directors of the Company are committed to enhance the value of the Company for its shareholders and believe that the share purchase plan can be applied in the best interests of the Company and its shareholders. A total of 60,112,500 free warrants (''Warrants 2014/2024'') were issued by the Company on 13 March 2014. Each warrant entitles the holder to subscribe for 1 new share at the exercise price of RM1.68 per share at any time during the exercise period. The warrants have an exercise period of 10 years commencing 13 March 2014 and expired on 12 March 2024. The foreign currency translation reserve represents exchange differences arising from the translation of the financial statements of a foreign operation whose functional currency is different from that of the Group's presentation currency. - 78 - NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 170
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