ISSUE OF SHARES AND DEBENTURES During the financial period, the Company issued 76,500 new ordinary shares from the exercise of options under the Company’s ESOS at the exercise price as disclosed in Note 16 to the financial statements amounting to RM84,000. The new ordinary shares issued rank pari passu in all respects with the existing ordinary shares of the Company. There were no other changes in the issued and paid-up capital of the Company during the financial period. There were no debentures issued during the financial period. OPTIONS GRANTED OVER UNISSUED SHARES No options were granted to any person to take up unissued shares of the Company during the financial period apart from the issuance of options pursuant to the ESOS. EMPLOYEE SHARE OPTION SCHEME At an extraordinary general meeting held on 1 April 2021, the shareholders of the Company approved as follows: i) establishment of a new ESOS of up to 5% of the total number of issued shares of the Company (excluding treasury shares, if any) at any point in time over the duration of the new ESOS for the eligible directors and employees of the Company and its subsidiaries (excluding dormant subsidiaries); and ii) allocation of ESOS Options to the Directors of the Company. The details of the ESOS are disclosed in Note 16 to the financial statements. Details of ESOS granted to the Directors are disclosed in the Directors’ interests section of the financial statements. WARRANTS 2016/2021 The Warrants were constituted by the Deed Poll dated 27 January 2016 (“Deed Poll”). On 1 August 2016, a total of 711,396,809 Warrants were issued by the Company. The details of the Warrants are disclosed in Note 16 to the financial statements. The Warrants had lapsed on 30 July 2021 and removed from the Main Market of Bursa Malaysia Securities Berhad on 2 August 2021. OTHER STATUTORY INFORMATION Before the financial statements of the Group and of the Company were made out, the Directors took reasonable steps to ascertain that: i) all known bad debts have been written off and that adequate allowance had been made for impairment losses on receivables, and ii) any current assets which were unlikely to be realised in the ordinary course of business have been written down to an amount which they might be expected so to realise. Financial Statements DAGANG NeXCHANGE BERHAD 184 DIRECTORS’ REPORT FOR THE PERIOD FROM 1 JULY 2022 TO 31 DECEMBER 2023
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