120
GHL Systems Berhad
(293040-D)
NOTES TO THE FINANCIAL STATEMENTS
31 December 2014 (continued)
17. SHARE CAPITAL (continued)
Group and Company
2014
2013
Number
Number
Note of shares
RM of shares
RM
Issued and fully paid
Before Capital Reduction
Ordinary shares of RM0.50 each
Balance as at 1 January
-
-
146,802,100 73,401,050
-
-
146,802,100 73,401,050
After Capital Reduction
Ordinary shares of RM0.20 each
Balance as at 1 January:
185,386,850 37,077,370
-
-
Reduction in par value of ordinary shares (b)
-
-
146,802,100 29,360,420
Issued for cash pursuant to:
- ESS
(a)(iii)
&(d)
(ii)
8,223,500 1,644,700
2,238,200
447,640
- acquisition of subsidiaries
(a)(ii) 150,602,283 30,120,457
-
-
- special issue
(a)(i)
84,126,858 16,825,371
-
-
- bonus issue
(a)(iv) 213,250,001 42,650,000
-
-
- rights issue
(d)(i)
-
-
36,346,550 7,269,310
Balance as at 31 December
641,589,492 128,317,898 185,386,850 37,077,370
(a) During the financial year, the issued and fully paid-up ordinary share capital of the Company was
increased by way of:
(i) special issue of 84,126,858 new ordinary shares of RM0.20 each at RM0.42 per ordinary share for
cash pertaining to the Share Subscription Agreement (“SSA”) with Cycas for cash consideration
paid for e-pay Asia Limited acquisition and related acquisition expenses and general working
capital purposes;
(ii) issuance of 150,602,283 new ordinary shares of RM0.20 each at RM0.44 per ordinary share and
remeasured to fair value of RM0.80 per ordinary share for share swap to acquire e-pay Asia Limited;
(iii) issuance of 8,223,500 new ordinary shares of RM0.20 each for cash pursuant to the exercise of
Executives’ Share Scheme (“ESS”); and
(iv) bonus issue of 213,250,001 new ordinary shares of RM0.20 each to be credited as fully paid, on the
basis of one (1) bonus share for every two (2) existing shares held (“Bonus Issue”).
(b) In the previous financial year, the Company completed a capital reduction exercise pursuant to
Section 64(1) of the Companies Act, 1965 in Malaysia to reduce the issued and paid-up capital of the
Company from 146,802,100 ordinary shares of RM0.50 each as of 18 June 2013 to 146,802,100 ordinary
shares of RM0.20 each by way of cancellation of RM0.30 in par value of ordinary share.
