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163
Maxis Berhad
Annual Report 2014
Notes to the
Financial Statements
31 December 2014
31 SHARE CAPITAL (CONTINUED)
(c) Incentive arrangement (continued)
During the financial year, the total expenses recognised as share-based payments is RM977,000 (2013: RM Nil).
The weighted average fair value of shares acquired under the incentive arrangement during the financial year based on
observable market price was RM6.97 (2013: RM Nil).
Movements in the number of shares under the incentive arrangement are as follows:
Group and
Company
2014
’000
As at 1 January
-
Acquired
687
Vested
-
As at 31 December
687
32 RESERVES
(a) Merger relief
Pursuant to Section 60(4)(a) of the Companies Act, 1965, the premium on the shares issued by the Company as consideration
for the acquisition of the subsidiaries is not recorded as share premium. The difference between the issue price and the
nominal value of shares issued is classified as merger relief.
(b) Reserve arising from reverse acquisition
The difference between the issued equity of the Company and issued equity of Maxis Mobile Services Sdn. Bhd. together with
the deemed purchase consideration of subsidiaries other than Maxis Mobile Services Sdn. Bhd. and the cash distribution to
MCB, is recorded as reserve arising from reverse acquisition.
