NOTES TO THE FINANCIAL STATEMENTS Cont’d 16. Capital and reserves Share capital Group and Company Amount Number of shares Amount Number of shares 2022 2022 2021 2021 RM’000 ’000 RM’000 ’000 Ordinary shares with no par value, issued and fully paid: At 1 January 1,088,487 8,076,220 1,088,487 4,038,110 Issue of bonus shares - - - 4,038,110 Issue of ordinary shares 970,588 163,399 - - Transaction costs for issued share capital (6,331) - - - At 31 December 2,052,744 8,239,619 1,088,487 8,076,220 Ordinary shares In March 2021, the Company proposed to undertake a bonus issue of 4,038,109,539 bonus shares on the basis of one (1) bonus share for every one (1) existing share of the Company held on the entitlement date. The bonus issue was subsequently approved by the shareholders via an Extraordinary General Meeting and completed in April 2021 following the listing and quotation of the 4,038,109,539 bonus shares on the Main Market of Bursa Malaysia Securities Berhad. On 21 March 2022, the Company proposed to undertake a private placement of up to 163,398,700 new ordinary shares (“Placement”). The issue price was fixed at RM5.94 per share on 28 March 2022 and the Placement was completed on 8 April 2022 following the listing and quotation of the 163,398,700 new ordinary shares on the Main Market of Bursa Malaysia Securities Berhad. The total gross proceeds raised was RM970,588,000. The holders of ordinary shares are entitled to receive dividends as declared from time to time, and are entitled to one vote per share at meetings of the Company. Reorganisation reserve The reorganisation reserve in the separate financial statements of the Company represents the difference between the value of the shares issued by the Company in exchange with the shareholders of PMB and the total equity of PMB at the date of exchange. Translation reserve The translation reserve comprises all foreign currency differences arising from the translation of the financial statements of foreign operations. Hedging reserve The hedging reserve comprises the effective portion of the cumulative net change in the fair value of cash flow hedges related to hedged transactions that have not yet occurred. PRESS METAL ALUMINIUM HOLDINGS BERHAD 259
RkJQdWJsaXNoZXIy NDgzMzc=