NOTES TO THE FINANCIAL STATEMENTS For the Financial Year Ended 31 December 2023 (cont’d) 22. ASSETS HELD FOR SALE (CONT’D) As disclosed in Note 46(a) to the financial statements, the Company had completed the distribution of total 83,980,558 Agmo Shares during the financial year, the remaining 19,442 Agmo Shares arising from fractional entitlements will be retained by the Group. As such, the remaining balances of Agmo Shares was reclassified to other investments at FVTPL. 23. SHARE CAPITAL Group and Company Number of ordinary shares Amount 2023 2022 2023 2022 Unit’000 Unit’000 RM’000 RM’000 At begininning of financial year 7,477,571 7,408,616 904,077 854,895 Issuance of new shares pursuant to: - DRP 81,111 68,955 57,940 49,182 At end of the financial year 7,558,682 7,477,571 962,017 904,077 During the financial year, the Company issued 81,111,688 new ordinary shares from the exercise of the DRP at an exercise price of RM0.715 per share amounting to RM57,940,559 (net of transaction cost). In the previous financial year, the Company issued 68,954,436 new ordinary shares from the exercise of the DRP at an exercise price of RM0.715 per share amounting to RM49,182,065 (net of transaction cost). The new ordinary shares issued rank pari passu in all respects with the existing ordinary shares of the Company. The holders of ordinary shares (except treasury shares) are entitled to receive dividends as declared from time to time, and are entitled to one vote per share at meetings of the Company. All ordinary shares rank equally with regards to the Company’s residual assets. 24. TREASURY SHARES Group and Company Number of ordinary shares Amount 2023 2022 2023 2022 Unit’000 Unit’000 RM’000 RM’000 At begininning of the financial year 39,595 12,000 36,642 12,364 Buy back 59,543 27,595 44,616 24,278 At end of the financial year 99,138 39,595 81,258 36,642 During the financial year, the Company repurchased 59,543,900 (2022: 27,595,400) units of its issued share capital from the open market at an average price of RM0.75 (2022: RM0.88) per share including transaction costs. The purchase transactions were financed by internally generated funds. The shares repurchased are held as treasury shares. ANNUAL REPORT 2023 225 FINANCIAL STATEMENTS
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