309 ANNUAL REPORT 2022 ACCOUNTABILITY NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2022 26. Cash and bank balances (continued) Cash at banks earns interest at floating rates based on daily bank deposit rates. Deposits with licensed banks are made for varying periods of between one to three months, depending on the immediate cash requirements of the Group, and earn interest at the respective deposit rates. Included in restricted cash are bank balances and deposits with licensed banks of the Group and the Company amounting to RM1,364 million and RM2 million respectively (2021: RM492 million and RM2 million respectively) that were pledged to the banks for the banking facilities of the Company and the subsidiaries, as disclosed in Note 32. 27. Share capital Group and Company Number of shares Amount 2022 2021 2022 2021 ‘000 ‘000 RM million RM million Ordinary shares issued and fully paid: At 1 February 1,099,519 1,094,745 1,126 1,107 Issued during the financial year - Exercise of ESS (Note 29(a)) 1,827 4,774 8 19 At 31 January 1,101,346 1,099,519 1,134 1,126 28. Treasury shares Group and Company 2022 2021 Number of shares Amount Number of shares Amount ‘000 RM million ‘000 RM million At 1 February 34,287 174 24,986 125 Treasury shares purchased 824 4 9,301 49 At 31 January 35,111 178 34,287 174 At the Annual General Meeting held on 15 July 2021, the shareholders of the Company had approved for the Company to repurchase its own shares up to a maximum of ten percent (10%) of its prevailing issued and paid-up share capital of the Company. The Directors of the Company are committed to enhancing the value of the Company and believed that the repurchase plan was being applied in the best interest of the Company and its shareholders.
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