144 YINSON HOLDINGS BERHAD ACCOUNTABILITY RESERVES AND PROVISIONS All material transfers to or from reserves and provisions during the financial year are disclosed in the financial statements. ISSUE OF SHARES AND DEBENTURES During the current financial year, the Company increased its issued and paid-up ordinary share capital from 3,079,287,282 to 3,217,929,437 through the following transactions: - issuance of 4,582,147 new ordinary shares arising from the exercise of options under the Employees’ Share Scheme as shown under Employees’ Share Scheme below; - issuance of 130,730,183 new ordinary shares arising from the exercise of warrants; and - issuance of 3,329,825 new ordinary shares issued under the DRP. The new ordinary shares issued rank pari passu in all respects with the existing ordinary shares of the Company. There were no new debentures issued during the financial year. TREASURY SHARES During the current financial year, the Company repurchased 111,082,200 of its issued shares from the open market on Bursa Malaysia Securities Berhad (“Bursa Malaysia”) for a total consideration paid of RM244 million. The average price paid for the shares repurchased was approximately RM2.20 per share and was financed by internally generated funds. The shares repurchased are held as treasury shares in accordance to Section 127(4) of the Companies Act 2016. Details of the treasury shares are set out in Note 29 to the financial statements. EMPLOYEES’ SHARE SCHEME On 3 November 2015, the Company obtained all required approvals and complied with the requirements pertaining to the establishment of Employees’ Share Scheme (“ESS”). On 25 January 2018, the Board of Directors resolved to extend the ESS tenure for additional five (5) years till 2 November 2025 in accordance with the terms of the ESS By-Laws. The ESS had expired on 2 November 2025. The Company had issued three offers of options with total of 9,000,000, 3,740,000 and 4,740,000 options on 27 February 2019, 22 January 2020 and 28 September 2021 respectively to eligible employees of the Group, including Executive Directors of the Company with 3 vesting periods. At date of issuance, the options for unissued shares were exercisable at RM4.00 per share, RM6.00 per share and RM4.67 per share respectively in 3 tranches upon fulfilling the vesting conditions. The adjusted exercise prices following the bonus issue and rights Issue undertaken in prior financial year were RM1.71 per share, RM2.56 per share and RM1.99 per share respectively. The unexercised options expired and lapsed on 27 February 2023, 22 January 2024 and 28 September 2025 respectively. No options were granted to Directors during the financial year ended 31 January 2026. The salient features and other terms of the ESS are disclosed in Note 30(a) to the financial statements.
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