Sasbadi Annual Report 2017

DIRECTORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2017 60 SASBADI HOLDINGS BERHAD (1022660-T) I BER AD (10 2 60-T) Directors’ interests in shares (continued) By virtue of their interests in the ordinary shares of the Company, Law King Hui, Lee Swee Hang and Lee Eng Sang are also deemed interested in the ordinary shares of the subsidiaries during the financial year to the extent that Sasbadi Holdings Berhad has an interest. Law Yi Chian did not have any interest in the 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, no Director of the Company has received nor become entitled to receive any benefit (other than those fees and other benefits included in the aggregate amount of remuneration received or due and receivable by Directors as shown in the financial statements or the fixed salary of a full time employee of the Company or of related corporations) 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. There were no arrangements during and at the end of the financial year which had the object of enabling Directors of the Company 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 Company issued 139,699,500 new ordinary shares in the Company pursuant to the bonus issue on the basis of one (1) bonus share for every two (2) existing ordinary shares of the Company. There were no other changes in the issued and paid-up capital of the Company during the financial year. There were no debentures issued during the financial year. Treasury shares During the financial year, a total of 1,000 buy-back shares were held as treasury shares and carried at cost. The shares repurchased are being held as treasury shares in accordance with Section 127 (4)(b) of the Companies Act 2016 and further relevant details are disclosed in Note 11 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.