GHL System Berhad Annual Report 2019

A N N U A L R E P O R T 2 0 1 9 71 DIRECTORS’ INTERESTS (cont’d) Number of ordinary shares of PHP100 each Balance as at 1.1.2019 Bought Sold Balance as at 31.12.2019 Shares in a subsidiary, GHL Systems Philippines, Inc. Loh Wee Hian 1 - - 1 GHL Electronic Payments Inc. Loh Wee Hian - 1 - 1 Number of ordinary shares of THB100 each Balance as at 1.1.2019 Bought Sold Balance as at 31.12.2019 GHL (Thailand) Co., Ltd Loh Wee Hian 2 - - 2 By virtue of his interest in the shares of the Company, Loh Wee Hian is also deemed to be interested in the ordinary shares of all the subsidiaries to the extent that the Company has an interest. None of the other Directors holding office at the end of the financial year held any interest in ordinary shares and options over ordinary shares of the Company and of its related corporations during the financial year. DIRECTORS’ BENEFITS Since the end of the previous financial year, none of the Directors have received or become entitled to receive any benefit (other than a benefit included in the aggregate amount of remuneration received or due and receivable by the Directors as shown in the financial statements) by reason of a contract made by the Company or a related corporation with the Director or with a firm of which the Director is a member, or with a company in which the Director has a substantial financial interest other than those as disclosed in Note 32 to the financial statements. There were no arrangements during and at the end of the financial year, to which the Company is a party, which had the object of enabling the Directors to acquire benefits by means of the acquisition of shares in or debentures of the Company or any other body corporate. ISSUE OF SHARES AND DEBENTURES During the financial year, the issued and fully paid-up ordinary share capital of the Company was increased from 737,984,933 to 749,209,139 by way of issuance of 11,224,206 new ordinary shares pursuant to the following: (ii) special issue of 10,061,206 new ordinary shares at RM1.19 (closing market price at date of issue: RM1.43) per ordinary share pertaining to the Share Subscription Agreement (“SSA”) with Paysys Group Holdings Sdn. Bhd. and Rica Holdings (M) Sdn. Bhd. as part of consideration paid for the acquisition of Paysys (M) Sdn. Bhd. and related acquisition expenses and general working capital purposes; and (iii) 1,163,000 options exercised under the Executive Share Scheme (“ESS”) at an exercise price of RM1.08 per ordinary share. DIRECTORS’ REPORT CONT’D