KENANGA ANNUAL REPORT 2018

NOTES TO THE FINANCIAL STATEMENTS 31 December 2018 202 KENANGA INVESTMENT BANK BERHAD 27. SHARE CAPITAL Authorised share capital The Authorised share capital has been removed after the Companies Act 2016 (“New Act”) was enacted to replace the Companies Act 1965 in Malaysia. Group and Bank Number of Ordinary Shares Amount 2018 2017 2018 2017 000 000 RM’000 RM’000 Issued and fully paid: Ordinary shares At 1 January 722,547 722,547 246,137 180,637 Issuance of shares pursuant to ESS exercise 194 - 112 - Transfer from share premium # - - - 65,500 At 31 December 722,741 722,547 246,249 246,137 # Transferred pursuant to the New Act. Group and Bank Number of Ordinary Shares Amount 2018 2018 Treasury shares 000 RM’000 At 1 January - - Share buy back 23,744 16,808 At 31 December 23,744 16,808 The shareholders of the Bank, via an ordinary resolution passed at the Annual General Meeting held on 23 May 2018, had approved its plan to purchase its own shares up to 10% of existing total issued and paid-up share capital. During the financial year, the Bank bought back 23,743,900 (2017: Nil) ordinary shares, at an average price of RM0.7046 from the open market. The share buy-back transactions were financed by internally generated funds. As at 31 December 2018, the total number of shares bought was 23,743,900 and were held as treasury shares in accordance with the provisions of Section 127 of the New Act. Accordingly the adjusted issued and paid-up share capital of the Company (excluding 23,743,900 treasury shares) as at 31 December 2018 was RM229,439,987 (2017: RM246,136,750) comprising 698,997,499 (2017: 722,546,999) shares.