EXCEL FORCE MSC BERHAD Annual Report 2018

40 ANNUAL REPORT 2018 Issue of Shares and Debentures During the financial year, the Company issued 750,000 new ordinary shares for a total cash consideration of RM255,000 arising from the exercise of warrants at an exercise price of RM0.34 per ordinary share. The new ordinary shares issued during the financial year rank pari passu in all respects with the existing ordinary shares of the Company. There was no issuance of debentures during the financial year. Warrants The Warrants 2014/2019 were constituted under the Deed Poll dated 1 July 2014. As at 31 December 2018, the total number of Warrants that remained unexercised was 205,822,312. The salient terms of the Warrants are disclosed in Note 15 to the financial statements. Options Granted Over Unissued Shares No options were granted to any person to take up unissued shares of the Company during the financial year. Directors The Directors in office since the beginning of the financial year until the date of this report are: Dato’ Dr. Norraesah Binti Haji Mohamad * Wang Kuen-Chung @ Jeff Wang * Wong Kok Chau * Gan Teck Ban Eng Shao Hon * Ng Kim Huat Aaron Sim Kwee Lein Lok Choon Hong The Director who held office in the subsidiary company (excluding Directors who are also Directors of the Company) since the beginning of the financial year up to the date of this report: Dato’ Mohd Fauzi Bin Yaakub (resigned on 1 November 2018) * Directors of the Company and its subsidiary companies The information required to be disclosed pursuant to Section 253 of the Companies Act, 2016 is deemed incorporated herein by such reference to the financial statements of the respective subsidiary company and made a part hereof. Directors’ Report (cont’d)