Tropicana Corporation Berhad Annual Report 2019

29. OTHER RESERVES (a) Foreign currency translation reserve The foreign currency translation reserve represents exchange differences arising from the translation of the financial statements of foreign operations whose functional currencies are different from that of presentation currency of the Group. (b) Warrants 2009/2019 reserve On 9 December 2009, the Company had issued 129,812,791 free detachable Warrants 2009/2019. The Warrants are constituted by the Deed Poll dated 28 October 2009. On 18 October 2013, the Company had issued additional 30,894,707 Warrants 2009/2019 pursuant to the adjustment to the Warrants 2009/2019 as a result of the Rights Issue with Bonus Shares. The main features of the Warrants are as follows: (i) each Warrant entitles the holder to subscribe for 1 new ordinary share in Tropicana at a price of RM1 per share; (ii) the Warrants may be exercised at any time up to 8 December 2019; and (iii) the shares arising from the exercise of Warrants shall rank pari passu in all respects with the existing ordinary shares of the Company, save and except that the new shares shall not be entitled to any dividends, rights, allotments and/or other distributions, the entitlement date of which is prior to the allotment date of the new shares. Warrants 2009/2019 had expired on 6 December 2019. (c) Retained earnings The entire retained earnings of the Company are available for distribution as single-tier dividends. For the financial year ended 31 December 2019 Notes to the Financial Statements Tropicana Corporation Berhad Annual Report 2019 pg 212 About Tropicana Our Strategic Performance Our Leadership