Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2023 128 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 20. FIXED DEPOSITS WITH LICENSED BANKS Fixed deposits with licensed banks of the Group and of the Company at the end of the reporting period bore effective interest rates ranging from 0.86% to 4.8% (2022: 0.10% to 2.50%) and 4.8% (2022: Nil) per annum respectively. The fixed deposits have maturity periods ranging from 2 to 365 days (2022: 90 to 365 days) and 2 days (2022: Nil) for the Group and the Company respectively. The fixed deposits of the Group amounting to RM539,574 (2022: RM509,269) are pledged to licensed banks as security for bank guarantee facility granted to the Group. 21. SHARE CAPITAL The Group/The Company 2023 2022 2023 2022 Number of Shares RM RM Issued and fully paid-up At 1 January/At 31 December 1,580,152,675 1,580,152,675 118,441,045 118,441,045 The holders of ordinary shares (except treasury shares) are entitled to receive dividends as and when declared by the Company and are entitled to one vote per ordinary share at meetings of the Company. The ordinary shares have no par value. 22. TREASURY SHARES The Group/The Company 2023 2022 2023 2022 Number of Shares RM RM At 1 January 9,201,250 9,201,250 4,747,849 4,747,849 Distribution (1,955,000) - (1,008,780) - At 31 December 7,246,250 9,201,250 3,739,069 4,747,849 On 5 December 2023, the Company transferred 1,955,000 of its treasury shares for the settlement of shares granted to employees and directors of the Group under the Share Grant Plan approved by the shareholders at an Extraordinary General Meeting held on 10 June 2022. As at 31 December 2023, the number of outstanding ordinary shares in issue after the set-off of 7,246,250 (2022: 9,201,250) treasury shares held by the Company is 1,572,906,425 (2022: 1,570,951,425) ordinary shares.
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