Sasbadi Annual Report 2017

NOTES TO THE FINANCIAL STATEMENTS 106 SASBADI HOLDINGS BERHAD (1022660-T) I BER AD (10 2 60-T) 11. Capital and reserves 11.1 Share capital Group and Company Number of shares Amount Number of shares Amount 2017 2017 2016 2016 ’000 RM’000 ’000 RM’000 Issued and fully paid: At 1 September 279,400 69,850 127,000 63,500 Issued for cash under private placement - - 12,700 6,350 Share split into ordinary shares - - 139,700 - Issue of bonus shares 139,700 34,925 - - Transfer from share premium in accordance with Section 618(2) of the Companies Act 2016 - 3,435 - - At 31 August 419,100 108,210 279,400 69,850 Share split During the previous financial year, the Company implemented a share split involving the subdivision of every one (1) existing ordinary share in the Company into two (2) ordinary shares in the Company. Bonus issue During the financial year, the Company completed the bonus issue of 139,699,500 new ordinary shares involving one (1) bonus share being credited as fully paid-up for every two (2) existing ordinary shares of the Company. Ordinary shares The Companies Act 2016 which came into effect on 31 January 2017 has abolished the concept of authorised share capital and par value of share capital. The holders of ordinary shares are entitled to receive dividends as declared from time to time, and are entitled to one vote per share at meetings of the Company. Employees’ share option scheme (“ESOS”) The salient features of the Company’s ESOS are, inter alia, as follows: i) The maximum number of shares which may be issued and allotted pursuant to the ESOS shall not exceed 10% of the total issued and paid-up share capital of the Company (excluding treasury shares, if any), at any point of time during the duration of the ESOS;