AwanBiru Technology Berhad - Annual Report 2021

Directors’ Report The directors hereby submit their report and the audited financial statements of the Group and of the Company for the financial year ended 30 June 2021. PRINCIPAL ACTIVITIES The Company is principally engaged in the business of investment holding. The principal activities of the subsidiaries are set out in Note 6 to the financial statements. There have been no significant changes in the nature of these activities during the financial year except for those disclosed to the financial statements. CHANGE OF NAME On 16 December 2020, the Company changed its name from Prestariang Berhad to AwanBiru Technology Berhad. RESULTS The Group The Company RM’000 RM’000 Profit/(Loss) after taxation for the financial year 9,349 (4,691) Attributable to:- Owners of the Company 9,985 (4,691) Non-controlling interests (636) – 9,349 (4,691) DIVIDENDS No dividend was recommended by the directors for the financial year. RESERVES AND PROVISIONS There were no material transfers to or from reserves or provisions during the financial year other than those disclosed in the financial statements. ISSUES OF SHARES AND DEBENTURES During the financial year:- (a) the Company increased its issued and paid-up share capital from RM133,802,983 to RM176,672,151 by way of: (i) a private placement of 79,579,740 new ordinary shares at an issue price of RM0.35 each, together with 79,579,740 free warrants for a cash consideration of RM18,874,510 (after net of transaction costs of RM137,090 and allocation of RM8,841,309 to warrant reserve); Awantec | Financial Review Annual Report 2021 124