PRG Holdings Berhad Annual Report 2020

Annual Report 2020 59 Directors’ Report ISSUE OF SHARES AND DEBENTURES During the financial year, the issued ordinary share capital of the Company was increased from 403,300,521 to 429,857,221 by way of the issuance of 26,556,700 new ordinary shares through private placement at issue price ranging from RM0.16 to RM0.61 per ordinary share for a total cash consideration of RM9,555,000. The newly issued ordinary shares rank pari passu in all respects with the existing ordinary shares of the Company. There were no other issues of shares during the financial year. The Company did not issue any debentures during the financial year. 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 Company has the right to retain, cancel, resell, transfer 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 429,857,221 (2019: 403,300,521) issued and fully paid ordinary shares as at 31 December 2020, 417,800 (2019: 417,800) ordinary shares bought for RM87,000 (2019: RM87,000) are held as treasury shares by the Company. The number of outstanding ordinary shares in issue after deducting the treasury shares is 429,439,421 (2019: 402,882,721) ordinary shares as at 31 December 2020. 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 who have held office during the financial year and up to the date of this report are as follows: PRG Holdings Berhad Dato’ Dr. Awang Adek Bin Hussin Dato’ Lua Choon Hann Dato’ Wee Cheng Kwan Lim Chee Hoong Ji Haitao (appointed on 8 May 2020) Ng Tzee Penn (appointed on 8 May 2020) Na Chun Wee (resigned on 7 April 2020) Datuk Dr. Wong Lai Sum (resigned on 1 June 2020) cont’d