Serba Dinamik Annual Report 2019

274 2019 ANNUAL REPORT FINANCIAL STATEMENTS SERBA DINAMIK HOLDINGS BERHAD 15. ASSET CLASSIFIED AS HELD FOR SALE In prior year, the Group via a wholly owned indirect subsidiary, SDSB, entered into a Subscription Agreement to subscribe 366,013 ordinary shares of RM43.71 each representing approximately 42.26% equity interest in E&E Gas Sdn. Bhd. The purchase consideration of RM16,000,000 is settled via transfer of this piece of land held under SDSB totalling approximately 10 acres. The subscription agreement and the transfer of land was completed on 9 July 2019. (see note 6(iii)). Group 2019 2018 RM’000 RM’000 Land - 16,000 ========= ========= 16. CAPITAL AND RESERVES 16.1 Share capital Group and Company Amount Number Amount Number RM’000 of shares RM’000 of shares 2019 2019 2018 2018 Ordinary shares Issued and fully paid with no par value Opening balance 1,344,347 1,468,500,000 928,194 1,335,000,000 Issued during the financial year Cash - - 427,200 133,500,000 Share split - 734,249,957 - - Bonus issue - 881,099,921 - - Share issue expenses - - ( 11,047) - - - 1,615,349,878 416,153 133,500,000 ----------- ---------------- ---------------- ------------- ---------------- Closing balance 1,344,347 3,083,849,878 1,344,347 1,468,500,000 ============= ============= =========== ============= The holders of ordinary 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. The number of ordinary shares of the Company has increased from 1,468,500,000 to 3,083,849,878 following the listing of the subdivided shares and bonus shares, as detailed below on the Main Market of Bursa Securities on 4 December 2019: (i) number of subdivided shares of 734,249,957 pursuant to share split involving a subdivision of every two existing ordinary shares into three shares; and N O T E S T O T H E F I N A N C I A L S TAT E M E N T S