237 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2023 ACCOUNTABILITY (FINANCIAL STATEMENTS) 14. Earnings per share (continued) (b) Diluted The diluted earnings per share is calculated by dividing the net profit attributable to the ordinary equity shareholders of the Company for the year (adjusted for interest income, net of tax, earned on the proceeds arising from the conversion of the ESS options and free detachable warrants) by the weighted average number of ordinary shares as adjusted for the basic earnings per share and includes all potential dilutive shares arising from the ESS options and warrants granted by the reporting date, as if the options and warrants had been exercised on the first day of the financial year or the date of the grant, if later. Group 2023 2022 Restated (c) Net profit attributable to ordinary equity shareholders of the Company (RM million) 452 263 Weighted average number of ordinary shares in issue at end of the year (‘000) 2,707,253 1,065,202 Adjusted for ESS options (‘000) 2,525 2,822 Adjusted weighted average number of ordinary shares in issue at end of the year (‘000) 2,709,778 1,068,024 Bonus issue completed on 14 April 2022 (‘000) (Note (c)(i)) - 1,068,024 Rights issue completed on 28 June 2022 (‘000) (Note (c)(ii)) - 278,265 Adjusted weighted average number of ordinary shares in issue and issuable at end of the year (‘000) 2,709,778 2,414,313 Diluted earnings per share (sen) - Before issuance of bonus and rights shares 16.7 24.6 - After issuance of bonus and rights shares 16.7 10.9 (c) Restatement of prior year’s earnings per share (i) For comparative purposes, the basic and diluted earnings per share for the financial year ended 31 January 2022 had been adjusted to reflect the bonus issue of 1 bonus share for every 1 existing ordinary share which was completed on 14 April 2022. (ii) For comparative purposes, the basic and diluted earnings per share for the financial year ended 31 January 2022 had been adjusted to reflect the bonus element of the rights issue of 2 rights shares for every 5 existing ordinary shares which was completed on 28 June 2022. (iii) In accordance with MFRS 133 Earnings Per Share, paragraph 12, the profit or loss attributable to ordinary equity shareholders of the Company for the purpose of calculating basic and diluted earnings per share shall be adjusted for the after-tax amounts of preference dividends, differences arising on the settlement of preference shares, and other similar effects of preference shares classified as equity. The Group has re-assessed the above-mentioned guidance provided by MFRS 133 Earnings Per Share. Accordingly, the profit attributable to ordinary equity shareholders of the Company for the purpose of calculating the basic and diluted earnings per share of the Group for the financial year ended 31 January 2022 was adjusted retrospectively to reflect the distributions declared to holders of perpetual securities of the Group (Note 44). There is no impact on the assets, liabilities, equity and profit or loss of the Group and the Company arising from the above-mentioned adjustment.
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