47 www.excelforce.com.my The Directors have pleasure in submitting their report together with the audited financial statements of the Group and of the Company for the financial year ended 30 June 2024. Principal Activities The principal activities of the Company are development, provision and maintenance of software application solutions for the financial services industry and investment holding. The principal activities of its subsidiary companies are disclosed in Note 7 to the financial statements. Financial Results Group Company RM RM Profit for the financial year, representing attributable to owners of the Company 8,281,572 1,672,788 Reserves and Provisions There were no material transfers to or from reserves or provisions during the financial year other than as disclosed in the financial statements. Dividends Since the end of the last financial period, the Company paid: RM Final single-tier dividend of 0.50 sen per ordinary share in respect of the financial period ended 30 June 2023 on 5 January 2024 2,796,892 First interim single-tier dividend of 0.50 sen per ordinary share in respect of the financial year ended 30 June 2024 on 3 July 2024 3,049,392 5,846,284 The Directors recommend the payment of a final single-tier dividend of 0.50 sen per ordinary share in respect of the current financial year, subject to the approval of the shareholders at the forthcoming Annual General Meeting. The financial statements for the current financial year do not reflect this proposed dividend. Issue of Shares and Debentures On 27 February 2024, the Company issued 50,500,000 new ordinary shares at issue price of RM0.335 per share, total value at RM16,917,500 as partial discharge of the purchase consideration for an acquisition of a subsidiary company during the financial year. The new ordinary shares issued during the financial year shall rank pari passu in all respects with the existing ordinary shares of the Company. There was no issuance of debentures during the financial year. Options Granted Over Unissued Shares No options were granted to any person to take up unissued shares of the Company during the financial year. Directors’ Report
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