ENRA Group Berhad Annual Report 2021

CORPORATE GOVERNANCE ENRA Group Berhad | Annual Report 2021 80 ADDITIONAL COMPLIANCE INFORMATION AS AT 24 JUNE 2021 COMPANY’S FREE WARRANTS In the Extraordinary General Meeting held on 25 September 2020, the shareholders of the Company has approved the proposed issuance of up to 45,402,647 free warrants in the Company on the basis of 1 warrant for every 3 existing shares, with conversion of 1 warrant for 1 new share. Each warrant entitles the registered warrant holder to subscribe for one (1) new ordinary share in the Company at an exercise price of RM1.00 during the 5-year period expiring on 26 December 2025 (“Exercise Period”). Any Warrant not exercised upon expiry of the Exercise Period will thereafter lapse and cease to be valid for any purpose. The warrants are constituted by the Deed Poll dated 8 December 2020 (“Deed Poll”). On 7 January 2021, the issuance of the Free Warrants has been completed following the listing of and quotation for 44,971,973 Warrants on the Main Market of Bursa Securities. As at 24 June 2021, no warrant has been exercised by the warrant holders. ALLOTMENT AND ISSUANCE OF NEW SHARES UNDER SECTION 75 AND 76 OF COMPANIES ACT 2016 The shareholders have given the Directors the renewed mandate to allot and issue new shares up to 10% of the total number of existing issued shares from 25 September 2020 to the conclusion of the next AGM. As at 24 June 2021, there is no new shares allotted and issued by the Company under Section 75 and 76 of Companies Act 2016. SHARES BUY BACK/ TREASURY SHARES The Shareholders have given the Directors the renewed mandate to purchase its own shares from 25 September 2020 to the conclusion of the next AGM subject to: i) The aggregate number of shares purchased does not exceed 10% of the total number of shares at the time of purchase, and ii) The maximum fund for the purchase shall not exceed the Company’s retained earnings at the time of purchase. As at 24 June 2021, 1.289 million treasury shares at RM1.199 million is held by the Company.