ANNUAL REPORT 2024 111 DIVIDENDS (Cont'd) In respect of the financial year ended 31 March 2024, the Directors had on 30 May 2024 declared a fourth interim single tier tax-exempt dividend of 1.30 sen per share, the Entitlement Date is 18 June 2024 and payable on 2 July 2024. This dividend has not been reflected in the financial statements for the current financial year but it will be accounted for in shareholders’ equity as an appropriation of retained profits for the financial year ending 31 March 2025. The Directors do not recommend the payment of any final dividend for the financial year ended 31 March 2024. RESERVES AND PROVISIONS There were no material transfers to or from reserves or provisions during the financial year other than those disclosed in the financial statements. ISSUES OF SHARES AND DEBENTURES During the financial year:- (a) the Company increased its issued and paid-up share capital from RM261,284,000 to RM261,294,260 by way of issuance of 19,000 new ordinary shares from the exercise of Warrants 2018/2023 at the exercise price of RM0.545 per share which amounted to RM10,260. The new ordinary shares issued rank pari passu in all respects with the existing ordinary shares of the Company. (b) there were no issues of debentures by the Company. TREASURY SHARES During the financial year, the Company purchased 36,481,900 of its issued ordinary shares from the open market at an average price of RM0.45 per share. The total consideration paid for the purchase was RM16,544,173 including transaction costs. The ordinary shares purchased are held as treasury shares in accordance with Section 127(6) of the Companies Act 2016 and are presented as a deduction from equity. As at 31 March 2024, the Company repurchased, in total its equity securities of 165,931,900 ordinary shares at an average price of RM0.48 per share as treasury shares, the consideration of which amounted to RM78,811,266 inclusive of transaction costs. OPTIONS GRANTED OVER UNISSUED SHARES During the financial year, no options were granted by the Company to any person to take up any unissued shares in the Company. EMPLOYEE SHARE OPTION SCHEME The Employee Share Option Scheme (“ESOS”) of the Company is governed by the ESOS By-Laws and was approved by the shareholders on 20 February 2020. The ESOS is to be in force for a period of 5 years effective from 16 July 2021. As at the end of the financial year, no ESOS option has been offered under the ESOS. REPORT DIRECTORS’
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