Tropicana Corporation Berhad Annual Report 2020

DIRECTORS' REPORT DIRECTORS (CONT'D.) The names of the directors of the Company's subsidiaries in office since the beginning of the financial year to the date of this report (not including those directors listed above) are: (cont'd.) Mohamad Sharif Bin Mok Som (Resigned on 1 February 2020) Siti Zubaidah Binti Abdul Jabar (Resigned on 1 February 2020) Lee Wee Fatt (Resigned on 4 February 2020) Chan Wai Cheong (Resigned on 4 February 2020) Chaw Yeap Leong (Resigned on 4 February 2020) Sie Choo Hing (Resigned on 4 February 2020) Tia Eng Kian (Resigned on 4 February 2020) Mohd Sohimin Bin Mohd Alayedin (Resigned on 31 March 2020) Tan Sri Datuk Lee Fook Long (Resigned on 28 May 2020) Datuk Lim Thean Shiang (Resigned on 1 June 2020) Eric Ooi (Appointed on 30 June 2020 and resigned on 9 October 2020) Choo Yung Yau (Resigned on 20 November 2020) Tan Kar Eng (Resigned on 29 December 2020) Roslan Bin Yahya (Resigned on 24 February 2021) Mohd Muhidin Bin Faharuddin (Appointed on 1 February 2020 and resigned on 20 April 2021) Roslan Bin Mohamed (Appointed on 25 February 2020 and resigned on 20 April 2021) Almiran Anuar (Appointed on 10 August 2020 and resigned on 30 April 2021) DIRECTORS' BENEFITS Neither at the end of the financial year, nor at any time during that year, did there subsist any arrangement to which the Company was a party, whereby the directors might acquire benefits by means of acquisition of shares in or debentures of the Company or any other body corporate. Since the end of the previous financial year, no director has received or become entitled to receive a benefit (other than benefits included in the aggregate amount of emoluments received or due and receivable by the directors as shown in Note 11 to the financial statements) by reason of a contract made by the Company or a related corporation with any 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, except as disclosed in Note 37 to the financial statements. DIRECTORS' INTERESTS According to the Register of Directors’ Shareholdings, the interests of directors in office at the end of the financial year in ordinary shares and irredeemable convertible preference shares over ordinary shares in the Company and its related corporations during the financial year were as follows: Tropicana Corporation Berhad Number of ordinary shares At 1 January At 2020/date of 31 December appointment Acquired^ Disposed 2020 Direct interest Tan Sri Dr Lim Wee Chai 155,223,865 6,985,072 – 162,208,937 Tan Sri Dato' Tan Chee Sing 358,234,048 15,608,427 (11,380,000) 362,462,475 Datuk Wira Lye Ek Seang 2,980,427 – (2,980,427) – Jared Ang Tzer Shen 4,323 194 – 4,517 Deemed Interest Tan Sri Dato' Tan Chee Sing 1 555,179,264 24,334,157 (19,160,000) 560,353,421 Jared Ang Tzer Shen 2 221,676 9,975 – 231,651 DIRECTORS' INTERESTS (CONT'D.) According to the Register of Directors' Shareholdings, the interests of directors in office at the end of the financial year in ordinary shares and irredeemable convertible preference shares over ordinary shares in the Company and its related corporations during the financial year were as follows: (cont'd.) Tropicana Corporation Berhad Number of Irredeemable Convertible Preference Shares At At 1 January 31 December 2020 Acquired Exercised 2020 Deemed Interest Tan Sri Dato' Tan Chee Sing 3 982,386,093 – – 982,386,093 1 Deemed interest by virtue of his interests in Aliran Firasat Sdn Bhd, Golden Diversity Sdn Bhd, Impeccable Ace Sdn Bhd pursuant to Section 8 of the Companies Act 2016 and spouse and child’s interests pursuant to Section 59(11) of the Companies Act 2016. 2 Deemed interest by virtue of Section 8 of the Companies Act 2016 held through spouse. 3 Deemed interest by virtue of his interests in T Shares 1 Sdn Bhd, Dasen Resources Sdn Bhd and DIT Sdn Bhd pursuant to Section 8 of the Companies Act 2016. ^ The acquisition is by way of share dividend. Other than as disclosed above, none of the other directors in office at the end of the financial year had any interest in ordinary shares and irredeemable convertible preference shares over ordinary shares in the Company or its related corporations during the financial year. DIRECTORS' INDEMNITY During the financial year, the total amount of indemnity coverage and insurance premium paid for directors and officers of the Group and of the Company were RM30,000,000 and RM36,050 respectively. TREASURY SHARES During the financial year, the Company: (i) repurchased 55,991,500 of its issued ordinary shares from the open market at an average price of RM0.84 per share. The shares repurchased are being held as treasury shares in accordance with Section 127 of the Companies Act 2016; and (ii) declared a first interim single-tier share dividend in respect of the financial year ended 31 December 2020 paid by way of distribution of 63,104,998 treasury shares on the basis of 4.5 treasury shares for every 100 existing ordinary shares held in the Company. The treasury shares were repurchased at an average price of RM0.85 per share. As at 31 December 2020, the number of treasury shares held are 8,378,243 ordinary shares. Such treasury shares are held at carrying amount of RM6,882,000 and further relevant details are disclosed in Note 28(a) to the financial statements. ANNUAL REPORT 2020 TROPICANA CORPORATION BERHAD FINANCIAL STATEMENTS AND OTHER INFORMATION 154 155