Asia Media Annual Report 2017

ASIA MEDIA GROUP BERHAD Annual Report 2017 46 Issue of Shares and Debentures There was no issuance of shares or debentures during the financial year. Options Granted over Unissued Shares No options were granted to any person to take up unissued shares of the Company during the financial year. Warrant 2013/2018 The Warrants are constituted by the deed poll dated 12 December 2012 (“Deed Poll”). On 8 January 2013, the Company completed the listing of bonus issue of 250,800,000 free warrants on the basis of one (1) free warrants of one (1) existing ordinary share of RM0.10 each in the Company. Each warrant entitles the holder of the right to subscribe for one (1) new ordinary share of RM0.10 each in the Company at an exercise price of RM0.25 per warrant. The exercise price of the warrant was adjusted from RM0.25 to RM0.22 and an additional 49,958,382 warrants were issued pursuant to a rights issue undertaken by the Company on 29 July 2013. On 23 December 2015, the exercise price of the warrants was adjusted from RM0.22 to RM1.10 and number of outstanding warrants were adjusted from 412,021,415 to 82,404,283 pursuant to par value reduction and the share consolidation. As of 29 December 2017, 82,404,283 warrants remained unexercised and expired. The expired warrants have been delisted on 2 January 2018. The salient features of the Warrants and outstanding at the end of the financial year are disclosed in Note 16(b) to the financial statements. DIRECTORS’ REPORT (cont’d)