PRG Holdings Berhad Annual Report 2018

TREASURY SHARES The members of the Company, by a special resolution passed at the Extraordinary General Meeting held on 27 June 2005 authorised the Company’s plan to purchase its own shares. The authority granted by the members was subsequently renewed during subsequent Annual General Meetings of the Company, including the last meeting held on 6 June 2018. The Directors of the Company are committed to enhancing the value of the Company to its members and believe that the repurchase plan can be applied in the best interest of the Company and its members. The Company has the right to retain, cancel, resell these shares and/or distribute these shares as dividends. As treasury shares, the rights attached to them as to voting, dividends and participation in any other distributions or otherwise are suspended. Of the total 310,751,274 (2017: 302,488,174) issued and fully paid ordinary shares as at 31 December 2018, 417,800 (2017: 417,800) ordinary shares bought for RM87,000 (2017: RM87,000) are held as treasury shares by the Company. The number of outstanding ordinary shares in issue after deducting the treasury shares is 310,333,474 (2017: 302,070,374) ordinary shares as at 31 December 2018. WARRANTS 2014/2019 (“Warrants”) On 7 July 2014, the Company issued 54,320,100 free detachable Warrants pursuant to the Rights Issue with Warrants Exercise on the basis of one (1) Warrant for every one (1) Rights Share subscribed. The Warrants are constituted by the Deed Poll dated 2 June 2014 (“Deed Poll”). The salient features of the Warrants are disclosed in Note 18(e) to the financial statements. The movements in the Warrants are as follows: Number of unexercised Warrants At 1 January 2018 96,277,026 Exercised (3,457,100) At 31 December 2018 92,819,926 As at 31 December 2018, unexercised Warrants of the Company are as follows: No. of Warrants Date issued Exercise price over ordinary shares Warrants expiry date 7 July 2014 RM0.375 92,819,926 6 July 2019 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’ report (continued) PRG HOLD I NGS BERHAD 61