101 FINANCIAL STATEMENTS & OTHERS SIGNIFICANT EVENT SUBSEQUENT TO THE END OF THE REPORTING PERIOD (a) Investment in Subsidiaries (i) Acquisition of Hexagon SBM (Sarawak) Sdn. Bhd. On 5 April 2024, Hexagon SPM Solutions Sdn. Bhd., an indirect wholly-owned subsidiary of the Company, acquired 70 ordinary shares in Hexagon SBM (Sarawak) Sdn. Bhd ("HSBMS") for RM70.00 from Encik Ikhwan bin Zaidel. The acquisition represents 70% of the total issued capital of HSBMS. (ii) Incorporation of a subsidiary, Hexagon Marine Services (S) Pte. Ltd. On 23 May 2024, HELSB, an indirect wholly owned subsidiary of the Company, incorporated a new subsidiary in Singapore known as Hexagon Marine Services (S) Pte. Ltd., with a paid-up share capital of USD9.00 comprising of 9 ordinary shares for the purpose of providing shipping services, including chartering of ships and boats with crew (freight). (b) Proposed Private Placement of the Company On 7 June 2024, the Company has proposed to undertake the proposed private placement of up to 10% of the total number of issued shares of the Company (excluding treasury shares) (‘Proposed Private Placement’). Bursa Securities had, via its letter dated 18 June 2024, approved the listing of and quotation for up to 19,179,000 new shares to be issued pursuant to the Proposed Private Placement on the Main Market of Bursa Securities, subject to the conditions set out in the letter by Bursa Securities. On 27 June 2024, the Company announced that the issue price for the Proposed Private Placement has been fixed at RM0.65 per Placement Share. The Issue Price represents a discount of approximately RM0.0053 or 0.81% to the 5-day VWAP of ENRA Shares up to and including 26 June 2024, being the last trading day immediately preceding the Price-Fixing Date of RM0.6553 per ENRA Share. On 5 July 2024, the Company announced that the Private Placement has been completed following the listing of and quotation for 13,491,800 Placement Shares on the Main Market of Bursa Securities on 5 July 2024. AUDITORS The auditors, BDO PLT (201906000013 (LLP0018825-LCA) & AF 0206), have expressed their willingness to continue in office. Auditors’ remuneration of the Group and of the Company for the financial year ended 31 March 2024 were as follows: Group Company RM’000 RM’000 Statutory audit - BDO PLT 124 60 - Other auditors 137 - Other services - BDO PLT 9 6 - Other auditors 9 - 279 66 Signed on behalf of the Board in accordance with a resolution of the Directors. Datuk Ali bin Abdul Kadir Tan Sri Dato’ Seri Shamsul Azhar bin Abbas Director Director Kuala Lumpur 12 July 2024 Directors’ Report (Cont’d)
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