Datasonic Group Berhad Annual Report 2021

DATASONIC GROUP BERHAD 92 RESERVES AND PROVISIONS There were no material transfers to or from reserves or provisions during the financial year other than those disclosed in the financial statements. ISSUES OF SHARES AND DEBENTURES During the financial year, the Company issued 1,350,000,000 new ordinary shares by way of bonus issue on the basis of one (1) new ordinary share for every one (1) existing ordinary share held in the Company on 1 October 2020. The new ordinary shares issued rank pari passu in all respects with the existing ordinary shares of the Company. There were no issues of debentures during the financial year. TREASURY SHARES During the financial year, the Company purchased 16,740,500 of its issued ordinary shares from the open market at an average price of RM0.68 per share. The total consideration paid for the purchase was approximately RM11,446,000 including transaction costs. The 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 2021, the Company held as treasury shares a total of 77,195,000 out of its 2,700,000,000 issued and fully paid-up ordinary shares. The treasury shares are held at a carrying amount of approximately RM37,580,000. 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. EMPLOYEE SHARE OPTION SCHEME The Employee Share Option Scheme of the Company (“ESOS”) is governed by the ESOS By-Laws and was approved by shareholders on 20 February 2020. The details of the ESOS are disclosed in Note 49(b) to the financial statements. DIRECTORS’ REPORT