260 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2023 YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2023 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 ten months, depending on the immediate cash requirements of the Group, and earn interest at the respective deposit rates. Included in cash and cash equivalents are bank balances and deposits with licensed banks of the Group and the Company amounting to RM476 million and RM2 million respectively (31 January 2022: RM1,280 million and RM2 million respectively) that were restricted based on the respective requirements of the lenders. These restricted amounts can only be used for purposes specified in the respective loan agreements, such as: - Debt Service Reserve Accounts, where specified minimum amounts are required to be maintained to service loans; - Operation and maintenance restricted accounts, where the amounts can only be utilised for expenses related to the charter and operation and maintenance contracts relating to the specified FPSO; and - FPSO restricted accounts, where the amounts can only be utilised for construction of a FPSO, as disclosed in Note 32. 27. Share capital Group and Company Number of shares Amount 2023 ‘000 2022 ‘000 2023 RM million 2022 RM million Ordinary shares issued and fully paid: At 1 February 1,101,346 1,099,519 1,134 1,126 Issued during the financial year - Exercise of ESS (Note 29(a)) 4,388 1,827 16 8 - Bonus issue 1,103,783 - - - - Rights issue 844,208 - 1,070 - At 31 January 3,053,725 1,101,346 2,220 1,134 On 14 April 2022, the Company completed the issuance of 1,103,782,973 bonus shares on the basis of 1 bonus share for every 1 existing ordinary share. On 28 June 2022, the Company completed the Rights Issue of 844,207,538 ordinary shares, on the basis of 2 rights shares for every 5 existing ordinary shares for a cash consideration (net of transaction costs of RM10 million) of RM1,180 million. The fair value of the free detachable warrants issued together with the Rights Issue of RM110 million was allocated from the net consideration received from the Rights Issue and transferred to warrants reserve (Note 30(f)).
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