16. CAPITAL AND RESERVES Share capital Group and Company Amount 31.12.2023 RM’000 Number of shares 31.12.2023 ’000 Amount 30.6.2022 RM’000 Number of shares 30.6.2022 ’000 Issued and fully paid: Ordinary shares At 1 July 1,017,319 3,156,254 785,437 2,724,685 Issuance of new shares pursuant to: – ESOS 84 77 1,076 971 – Private placement – – 44,868 64,577 – Warrant conversion – – 185,938 366,021 At 31 December/30 June 1,017,403 3,156,331 1,017,319 3,156,254 The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per ordinary share at meetings of the Company. The ordinary shares have no par value. Warrant reserve On 1 August 2016, the warrant reserve arose from the following: i) a renounceable rights issue of 465,146,809 new ordinary shares together with 465,146,809 free new detachable warrants; ii) a special issue of 130,000,000 new ordinary shares together with 65,000,000 free new detachable warrants; and iii) acquisition of certain subsidiaries through issuance of 362,500,000 new ordinary shares together with 181,250,000 free new detachable warrants. The salient features of the Warrants are as follows: i) Each Warrant entitles the registered holder (“Warrant holders”) to subscribe for new ordinary shares in the Company at the exercise price of RM0.50, which may be exercised at any time from the date of issuance to the close of business on the market day immediately preceding the date which is the fifth anniversary from the date of the issuance of Warrants which falls on 30 July 2021 (“Exercise Period”). ii) Any Warrants not exercised during the Exercise Period will thereafter lapse and cease to be valid. iii) Warrant holders must exercise the Warrants in accordance with the procedures set out in the Deed Poll and shares allocated and issued upon exercise shall rank pari passu in all respects with the then existing shares of the Company, and shall be entitled for any dividends, rights, allotments and/or other distributions after the issue and allotment thereof. Integrated Report 2023 253
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