Notes To The Financial Statements 31 March 2024 (Cont’d) 178 ENRA GROUP BERHAD ANNUAL REPORT 2024 34. ADOPTION OF NEW MFRSs AND AMENDMENTS TO MFRSs (CONT'D) 34.2 New MFRSs that have been issued, but only effective for annual periods beginning on or after 1 January 2024 Title Effective date Amendments to MFRS 16 Lease Liability in a Sale and Leaseback 1 January 2024 Amendments to MFRS 101 Classification of Liabilities as Current or Non-current 1 January 2024 Amendments to MFRS 101 Non-current Liabilities with Covenants 1 January 2024 Amendments to MFRS 107 and MFRS 7 Supplier Finance Arrangements 1 January 2024 Amendments to MFRS 121 Lack of Exchangeability 1 January 2025 MFRS 18 Presentation and Disclosure in Financial Statements 1 January 2027 Amendments to MFRS 10 and MFRS 128 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture Deferred The Group and the Company are in the process of assessing the impact of implementing these Amendments since the effects would only be observable for future financial years. 35. 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.
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