NOTES TO THE FINANCIAL STATEMENTS 18. CAPITAL AND RESERVES (CONTINUED) Warrants 2025/2030 On 24 July 2025, a total of 1,157,306,043 free warrants were issued by the Company (“Warrants 2025/2030”) pursuant to the bonus issue of free warrants on the basis of one (1) warrant for every three (3) existing ordinary shares held by the entitled shareholders. The warrants were listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 28 July 2025. The salient features of the Warrants are as follows: i) Each Warrant entitles the registered holder (“Warrant Holders”) to subscribe for one (1) new ordinary share in the Company at the exercise price of RM0.19, which may be exercised at any time from the date of issuance to the close of business on the market day immediately preceding the date which is the fifth anniversary from the date of the issuance of Warrants which falls on 23 July 2030 (“Exercise Period”). ii) Any Warrants not exercised during the Exercise Period will thereafter cease to be valid for any purpose and will be deemed to have lapsed. iii) Warrant Holders must exercise the Warrants in accordance with the terms and conditions contained in the Deed Poll, and shares allocated and issued upon exercise shall rank pari-passu in all respects with the existing ordinary shares, save and except that the new ordinary shares will not be entitled to any dividend, right, allotment and/or any other forms of distribution where the entitlement date of such dividend, right, allotment and/or other forms of distribution precedes the relevant date of allotment and issuance of the new ordinary shares. iv) The Warrant Holders are not entitled to vote in any general meeting of the Company or to participate in any dividends, rights, allotments and/or other forms of distribution and/or offer of further securities in the Company to the ordinary shareholders unless and until the Warrant Holders become ordinary shareholders by exercising their respective Warrants. The movement of the warrants since the listing and quotation thereof is as follows: Entitlement for ordinary shares At 1.1.2025 Issued Exercised At 31.12.2025 Number of unexercised Warrants - 1,157,306,043 (4,319,330) 1,152,986,713 The warrants were issued at no cost to the entitled shareholders and accordingly, no value has been ascribed to the warrants. Translation reserve The translation reserve comprises all foreign currency differences arising from the translation of the financial statements of foreign operations whose functional currencies are different from the Group’s presentation currency. 19. NON-CONTROLLING INTERESTS This consists of the non-controlling shareholders’ proportion of share capital and reserves in subsidiaries. 181 OPERATIONAL REVIEW SUSTAINABILITY STATEMENT GOVERNANCE FINANCIAL STATEMENTS SHAREHOLDERS’ INFORMATION INTELLIGENCE POWERING
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