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DIRECTORS’ REPORT (cont’d)
FOR THE YEAR ENDED 31 DECEMBER 2012
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.
ISSUE OF SHARES AND DEBENTURES
During the financial year, the Company increased its issued and paid up share capital from RM40,379,126 to RM45,016,559
by way of the issuance of:
a) 10,000,000 ordinary shares of RM0.40 each pursuant to the Company’s private placement at an issue price of RM0.61
per share; and
b) 1,593,584 ordinary shares of RM0.40 each at an issue price of RM0.40 per share arising from the exercise of Warrants
2003/2013 issued by the Company.
The Company has not issued any new debenture during the financial year.
SHARE OPTIONS
WARRANTS 2003/2013
Pursuant to a deed poll dated 20 August 2003, the Company issued 15,999,200 detachable warrants on 13 October 2003 in
conjunction with a rights issue of 15,999,200 new ordinary shares of RM1.00 each in the Company. Each warrant entitles the
registered holder at any time during the exercise period from 13 October 2003 to 13 October 2013 to subscribe for 1 new
ordinary share of RM1.00 each in the Company at an exercise price of RM1.00 per share. With effect from 10 September
2010, the 15,999,200 unexercised warrants were adjusted to an exercise price of RM0.40 per share consequential to the
Company’s capital reduction exercise. On 11 October 2010, an additional 6,414,377 warrants were issued at an exercise price
of RM0.40 per share in conjunction with a rights issue of 50,354,000 new ordinary shares of RM0.40 each in the Company.
As at 31 December 2012, 1,833,398 warrants have been exercised and there were 20,580,179 unexercised warrants at an
exercise price of RM0.40 per share.
WARRANTS 2010/2020
Pursuant to a deed poll dated 3 September 2010, the Company issued 25,177,000 detachable warrants on 11 October 2010
in conjunction with a rights issue of 50,354,000 new ordinary shares of RM0.40 each in the Company. Each warrant entitles
the registered holder at any time during the exercise period from 11 October 2010 to 11 October 2020 to subscribe for
1 new ordinary share of RM0.40 each in the Company at an exercise price of RM0.50 per share. As at 31 December 2012,
none of the aforesaid warrants has been exercised and there were 25,177,000 unexercised warrants at an exercise price of
RM0.50 per share.
DIRECTORS
The directors who served since the date of the last report are:-
Dato’ Syed Abu Hussin bin Hafiz Syed Abdul Fasal
Peter Wong Hoy Kim
Malik Parvez Ahmad bin Nazir Ahmad
Shaiful Annuar bin Ahmad Shaffie
Iskandar Ibrahim
In accordance with Article 101 of the Company’s Articles of Association, Dato’ Syed Abu Hussin bin Hafiz Syed Abdul Fasal
retires at the forthcoming annual general meeting and being eligible, offers himself for re-election.
In accordance with Section 129(6) of the Companies Act, 1965, Peter Wong Hoy Kim seeks for re-appointment as Director
of the Company at the forthcoming Annual General Meeting.
Gunung Capital Berhad (330171-P)
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annual report | 2012