YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2024 174 DIRECTORS’ REPORT ISSUE OF SHARES AND DEBENTURES During the current financial year, the Company increased its issued and paid-up ordinary share capital from 3,053,725,384 to 3,064,331,331 by way of issuance of 10,556,885 new ordinary shares arising from the exercise of options under the Employees’ Share Scheme as shown under Employees’ Share Scheme below, and 49,062 new ordinary shares arising from the exercise of warrants. During the previous financial year, bonus issue of 1,103,782,973 of 1 bonus share for every 1 existing ordinary share was completed on 14 April 2022 (“Bonus Issue”) and rights issue of 844,207,538 rights shares of 2 rights shares for every 5 existing ordinary shares was completed on 28 June 2022 (“Rights Issue”). The adjusted exercise prices of options under the Employees’ Share Scheme following the Bonus Issue and Rights Issue were as follows: Grant date 27.2.2019 22.1.2020 28.9.2021 Adjusted exercise price of option (RM) 1.71 2.56 1.99 The new ordinary shares issued rank pari passu in all respects with the existing ordinary shares of the Company. There were no new debentures issued during the financial year. TREASURY SHARES During the financial year, the Company did not repurchase any of its issued shares from the open market on Bursa Malaysia Securities Berhad (“Bursa Malaysia”). Details of the treasury shares are set out in Note 28 to the financial statements. EMPLOYEES’ SHARE SCHEME On 3 November 2015, the Company obtained all required approvals and complied with the requirements pertaining to the establishment of Employees’ Share Scheme (“ESS”). On 25 January 2018, the Board of Directors resolved to extend the ESS tenure for additional five (5) years till 2 November 2025 in accordance with the terms of the ESS By-Laws. The Company had issued three offers of options with total of 9,000,000, 3,740,000 and 4,740,000 options on 27 February 2019, 22 January 2020 and 28 September 2021 respectively to eligible employees of the Group, including Executive Directors of the Company with 3 vesting periods. At date of issuance, the options for unissued shares are exercisable at RM4.00 per share, RM6.00 per share and RM4.67 per share respectively in 3 tranches upon fulfilling the vesting conditions and shall expire on 27 February 2023, 22 January 2024 and 28 September 2025 respectively. During the financial year ended 31 January 2024, the third and fourth offer of options lapsed on 27 February 2023 and 22 January 2024 respectively.
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