AwanBiru Technology Berhad - Annual Report 2021

(ii) an issuance of 176,842,127 new ordinary shares pursuant to the right issues with warrants at RM0.20 each, together with 79,579,740 free warrants for a total cash consideration RM23,783,571 (after net of transaction costs of RM355,379 and with allocation of RM11,229,475 to warrant reserve); and (iii) an issuance of 471,633 new ordinary shares for a total cash consideration of RM181,579 at an issue price of RM0.385 each from warrants conversion, with transfer of RM29,508 from warrant reserve. The new ordinary shares issued rank pari passu in all respects with the existing ordinary shares of the Company; and (b) there were no issues of debentures by the Company. TREASURY SHARES As at 30 June 2021, the Company held as treasury shares a total of 1,698,500 of its 532,230,100 issued and fully paid-up ordinary shares. The treasury shares are held at a carrying amount of RM3,366,346. The details on the treasury shares are disclosed in Note 20 to the financial statements. OPTIONS GRANTED OVER UNISSUED SHARES During the financial year, no options were granted by the Company to any person to take up any unissued shares in the Company except for the share options granted pursuant to the Company’s Employees’ Share Option Scheme below. EMPLOYEES’ SHARE OPTION SCHEME The Employees’ Share Option Scheme of the Company (“ESOS”) is governed by the ESOS By-Laws and was approved by shareholders on 15 September 2020. The ESOS is to be in force for a period of 5 years effective from 25 January 2021. The details of the ESOS are disclosed in Note 23 to the financial statements. WARRANTS The movement in Warrants (“Warrants”) of the Company during the financial year is as follows:- 2021 ‘000 As at 1 July 2020 – Issued during the financial year 256,422 Exercised during the financial year (472) As at 30 June 255,950 At the end of the financial year, there were 255,950,234 outstanding warrants with the exercise price of RM0.385 which will be expiring on 24 November 2025. Financial Review | Awantec Annual Report 2021 125