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FIMA CORPORATION BERHAD
(21185-P) |
Annual Report
2016
NOTES TO THE FINANCIAL
STATEMENTS 31 MARCH 2016
(contd.)
24. TREASURY SHARES
This amount relates to the acquisition cost of treasury shares.
The shareholders of the Company, by a special resolution passed in a general meeting held on 10 September
2007, gave their approval for the Company’s plan to repurchase its own shares. The directors of the Company
are committed to enhancing the value of the Company to its shareholders and believe that the repurchase
plan can be applied in the best interests of the Company and its shareholders.
During the financial year, the Company repurchased 84,000 (2015: Nil) of its issued ordinary shares from
the open market at an average price of RM2.19 per ordinary share. The total consideration paid for the
repurchase including transactions costs was RM184,985 (2015: Nil). The shares repurchased are being
held as treasury shares in accordance with Section 67A of the Companies Act, 1965.
Of the total 245,324,330 (2015: 245,324,330) issued and fully paid ordinary shares of RM0.50 each as at
31 March 2016, 3,996,200 (2015: 3,912,200) are held as treasury shares by the Company. As at 31 March
2016, the number of outstanding ordinary shares in issue and fully paid-up is therefore 241,328,130 (2015:
241,412,130) ordinary shares of RM0.50 each.
25. OTHER RESERVES
Foreign
Asset Currency
Equity
Revaluation Translation Contribution
Reserve
Deficit from Parent
Total
Group
RM’000
RM’000
RM’000
RM’000
At 1 April 2014
1,530
(28,199)
3,949
(22,720)
Foreign currency translation
-
(2,004)
-
(2,004)
Revaluation surplus, net of tax
15,293
-
-
15,293
Grant of equity-settled share options
-
-
174
174
At 31 March 2015
16,823
(30,203)
4,123
(9,257)
At 1 April 2015
16,823
(30,203)
4,123
(9,257)
Foreign currency translation
-
2,478
-
2,478
Grant of equity-settled share options
-
-
105
105
At 31 March 2016
16,823
(27,725)
4,228
(6,674)