ISSUE OF SHARES AND REDEEMABLE CONVERTIBLE UNSECURED ISLAMIC DEBT SECURITIES (“RCUIDS”) During the financial year, the Company increased its issued and paid-up ordinary share capital from RM8,023,268,000 to RM8,457,172,000 by way of the: (i) Issuance of 369,846,852 new ordinary shares at RM0.675 per share as part of the first tranche of private placement amounting to RM249,646,625 on 18 February 2021 for working capital purposes, as disclosed in Note 31(i). (ii) Issuance of 100,367,362 new ordinary shares at RM0.865 per share as part of the second tranche of private placement amounting to RM86,817,768 on 16 March 2021 for working capital purposes, as disclosed in Note 31(i). (iii) Issuance of 85,864,583 new ordinary shares at RM1.20 per share as part of the purchase consideration for the remaining 20% equity stake in BIGLIFE Sdn Bhd amounting to RM103,037,500 as disclosed in Note 31(ii). The new ordinary shares issued during the financial year rank pari passu in all respects with the existing ordinary shares of the Company. On 31 December 2021, the Company completed the renounceable rights issue (“Rights Issue”) of RM974,513,219 in nominal value of 7-year redeemable convertible unsecured islamic debt securities (“RCUIDS”) at nominal value of RM0.75 each based on the Shariah principal of Murabahah (via “Tawarruq Arrangement”) comprising 1,299,350,959 RCUIDS together with 649,675,479 free detachable warrants (“Warrants”) on the basis of 2 RCUIDS with 1 warrant for every 6 ordinary shares in the Company following the listing and quotation on the Main Market of Bursa Securities. The Rights Issue is constituted by a trust deed dated 18 November 2021. Further details are as disclosed in Note 28. OPTIONS GRANTED OVER UNISSUED SHARES No options were granted to any person to take up the unissued shares of the Company during the financial year other than the issue of options pursuant to the Long Term Incentive Scheme (“LTIS”) which is governed by LTIS By-Laws and RCUIDS with free detachable warrants. LTIS At an Extraordinary General Meeting held on 21 June 2021, the Company’s shareholders approved the establishment of LTIS which comprise the Employee Share Option Scheme (“ESOS”) and Share Grant Scheme. On 3 August 2021, the Company granted 159,400,000 ESOS to selected certain eligible employees and directors of the Group. The salient features and other details of the ESOS are disclosed in Note 32 to the financial statements. Details of the options to subscribe for ordinary shares of the Company pursuant to the ESOS as at 31 December 2021 are as follows: Expiry date Exercise price (RM) Options 1 August 2027 0.7425 151,600,000 STATUTORY INFORMATION ON THE FINANCIAL STATEMENTS (a) Before the income statements, statements of comprehensive income and statements of financial position of the Group and of the Company were made out, the directors took reasonable steps: (i) to ascertain that proper action had been taken in relation to the writing off of bad debts and the making of provision for doubtful debts and satisfied themselves that all known bad debts had been written off and that adequate provision had been made for doubtful debts; and (ii) to ensure that any current assets which were unlikely to realise their value as shown in the accounting records in the ordinary course of business had been written down to an amount which they might be expected to realise. (b) At the date of this report, the directors are not aware of any circumstances which would render: (i) the amounts written off for bad debts or the amount of the provision for doubtful debts in the financial statements of the Group and of the Company inadequate to any substantial extent; and (ii) the values attributed to current assets in the financial statements of the Group and of the Company misleading. F I N A N C I A L S T A T E M E N T S A N N U A L R E P O R T 2 0 2 1 2 0 1
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