Yinson Annual Report 2019

181 Yinson Group Overview Strategy and Sustainability Governance Accountability Annual General Meeting 27. SHARE CAPITAL Group and Company Number of shares Amount 2019 2018 2019 2018 ’000 ’000 RM’000 RM’000 Ordinary shares issued and fully paid: At 1 February 1,092,808 1,092,798 1,099,490 1,099,462 Issued during the financial year - Exercise of ESS 437 10 1,600 28 At 31 January 1,093,245 1,092,808 1,101,090 1,099,490 28. TREASURY SHARES Group and Company 2019 2018 Number of Number of shares Amount shares Amount ’000 RM’000 ’000 RM’000 At 1 February 4,607 12,633 4,607 12,633 Treasury shares purchased 7,319 31,196 – – At 31 January 11,926 43,829 4,607 12,633 At the Annual General Meeting held on 12 July 2018, the shareholders of theCompany had approved for theCompany to repurchase its own shares up to a maximum of ten percent (10%) of its prevailing issued and paid-up share capital of the Company. The Directors of the Company are committed to enhancing the value of the Company and believed that the repurchase plan was being applied in the best interest of the Company and its shareholders. 29. EMPLOYEES’ SHARE SCHEME The Company implemented an Employees’ Share Scheme (“ESS” or “Scheme”) which came into effect on 3 November 2015 for a period of 5 years to 2 November 2020. The ESS is governed by the By-Laws which were approved by the shareholders on 3 November 2015. On 25 January 2018, the Board of Directors resolved to extend the ESS tenure for additional five (5) years till 2 November 2025 in accordance with the terms of the ESS By-Laws. During the financial year, the Company had made the second offer of options under ESS Scheme on 30March 2018. The main features of the Scheme are as follows: (a) An eligible employee shall pay a sum of RM1.00 as consideration for acceptance of that offer. An option shall be exercisable at a price which is the weighted average of the market price quotation of the shares for the five (5) market days immediately preceding the date on which the options are granted, rounded to the nearest sen, or the par value of the shares, whichever is higher. (b) Unless otherwise determined by ESS committee, each option shall become exercisable, to the extent of one-third of the shares covered thereby, on each of the first three (3) anniversaries of the date of grant, if the holder of such option shall have been in the continuous service of the Company or subsidiaries that are not dormant throughout such period. No options shall be exercisable if the exercise of such options would violate any provision of applicable laws, nor shall any options be exercisable more than five (5) years from the date on which the Scheme became effective.