202 KIMLUN CORPORATION BERHAD • NOTES TO THE FINANCIAL STATEMENTS 200901023978 (867077-X) Kimlun Corporation Berhad (Incorporated in Malaysia) 29. Share capital and treasury shares (cont'd) (a) Share capital (b) Treasury shares 30. Retained earnings 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. 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 entire retained earnings of the Company as at 31 December 2025 may be distributed as dividends under single tier system. During the financial year, the Company issued 35,336,200 new ordinary shares at an issue price of RM1.19 each under a private placement. The total cash consideration of RM42,050,078 were utilised for working capital and private placement expenses. The new ordinary shares rank pari passu in all respects with the existing ordinary shares of the Company. Treasury shares relate to ordinary shares of the Company that are reacquired and held by the Company. The amount consists of the acquisition costs. The sharesholders of the Company, by an ordinary resolution passed in an Annual General Meeting held on 3 June 2025, renewed their approval for the Company's plan to repurchase its own shares. The repurchased shares are being held as treasury shares in accordance with Section 127(6) of the Companies Act 2016. There was no repurchase of the Company's issued ordinary shares, nor any resale, cancellation or distribution of treasury shares during the financial year. Out of the total 388,718,916 (2024: 353,382,716) issued and fully paid ordinary shares, 20,000 (2024: 20,000) are held as treasury shares by the Company. The number of outstanding ordinary shares after set-off is 388,698,916 (2024: 353,362,716). - 82 -
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