01 | ABOUT NEXG 02 | OUR LEADERSHIP0 3| OUR PERSPECTIVE 04 | SUSTAINABILITY 05 | GOVERNANCE 06 | FINANCIAL STATEMENTS 07 | OTHER INFORMATION Financial Statements 139 Directors' REPORT (Cont’d) Registration No: 200801008472 (809759 - X) NEXG BERHAD (Incorporated in Malaysia) DIRECTORS’ REPORT Page 3 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 2026, there were issuance of 576,024,349 new ordinary shares pursuant to the exercise of the Warrant at the exercise price of RM0.2117 per warrant. BAD AND DOUBTFUL DEBTS Before the financial statements of the Group and of the Company were made out, the directors took reasonable steps to ascertain that action had been taken in relation to the writing off of bad debts and the making of provision for doubtful debts on receivables, and satisfied themselves that all known bad debts had been written off and that adequate provision had been made for impairment losses on receivables. At the date of this report, the directors are not aware of any circumstances that would render the further writing off of bad debts, or the provision for doubtful debts on receivables in the financial statements of the Group and of the Company inadequate to any substantial extent.
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