ANNUAL REPORT 2025 FINANCIAL STATEMENTS 112 ISSUES OF SHARES AND DEBENTURES During the financial year:- (a) the Company increased its issued and paid-up share capital from RM261,294,260 to RM266,001,872 by way of:- (i) issuance of 2,800 new ordinary shares from the exercise of warrants at the exercise price of RM0.2117 per share which amounted to RM593; and (ii) issuance of 9,113,300 new ordinary shares from the exercise of options under the Company’s Employee Share Option Scheme at the exercise prices as disclosed in Note 24 to the financial statements which amounted to RM4,064,532. The new ordinary shares issued rank pari passu in all respects with the existing ordinary shares of the Company. (b) there were no issues of debentures by the Company. TREASURY SHARES During the financial year, the Company purchased 23,041,200 of its issued ordinary shares from the open market at an average price of RM0.48 per share. The total consideration paid for the purchase was RM11,012,870 including transaction costs. The ordinary shares purchased are held as treasury shares in accordance with Section 127(6) of the Companies Act 2016 and are presented as a deduction from equity. As at 31 March 2025, the Company repurchased, in total its equity securities of 188,973,100 ordinary shares at an average price of RM0.48 per share as treasury shares, the consideration of which amounted to RM89,824,137 inclusive of transaction costs. OPTIONS GRANTED OVER UNISSUED SHARES During the financial year, no options were granted by the Company to any person to take up any unissued shares in the Company except for the share options granted pursuant to the Company’s Employee Share Option Scheme below. EMPLOYEE SHARE OPTION SCHEME The Employee Share Option Scheme (“ESOS”) of the Company is governed by the ESOS By-Laws and was approved by the shareholders on 20 February 2020. The ESOS is to be in force for a period of 5 years effective from 16 July 2021. The details of the ESOS are disclosed in Note 24 to the financial statements. WARRANTS B 2025/2028 The Company had on 18 February 2025 issued 1,391,079,589 free Warrants on the basis of one (1) Warrant for every two (2) existing ordinary shares. The Warrants are constituted by a Deed Poll dated 24 January 2025. The salient terms of the Warrants B 2025/2028 are as follows:- (a) Each Warrant entitles the registered holder to subscribe for one (1) new ordinary share in the Company at any time on or before the maturity date, 17 February 2028, falling three (3) years from the date of issue of the Warrants. Unexercised Warrants after the exercise period will thereafter lapse and cease to be valid; (b) The exercise price of the Warrants is fixed at RM0.2117 per Warrant; (c) The new ordinary shares to be issued upon the exercise of the Warrants shall rank pari passu in all respects with the existing ordinary shares of the Company; and (d) The Warrants were listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 21 February 2025. As at 31 March 2025, there were issuance of 2,800 new ordinary shares pursuant to the exercise of the Warrant at the exercise price of RM0.2117 per warrant. Directors’ Report (Cont’d)
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