Yinson Annual Report 2021

271 ANNUAL REPORT 2021 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2021 27. Share capital Group and Company Number of shares Amount 2021 2020 2021 2020 '000 '000 RM million RM million Ordinary shares issued and fully paid: At 1 February 1,094,745 1,093,245 1,107 1,101 Issued during the financial year - Exercise of ESS (Note 29(a)) 4,774 1,500 19 6 At 31 January 1,099,519 1,094,745 1,126 1,107 28. Treasury shares Group and Company 2021 2020 Number of shares Amount Number of shares Amount '000 RM million '000 RM million At 1 February 24,986 125 11,926 44 Treasury shares purchased 9,301 49 13,060 81 At 31 January 34,287 174 24,986 125 At the Annual General Meeting held on 16 July 2020, the shareholders of the Company had approved for the Company 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. Share-based compensation plans (a) 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. The Company had made the third and fourth offer of options under ESS Scheme on 27 February 2019 and 22 January 2020 respectively. During the current financial year, the Company did not make any offer of options under ESS Scheme. 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. (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.