Annual Report 2020

11. Proposed Renewal for the Company to purchase its own shares of up to 10% of the total number of issued shares (“Proposed Renewal of Share Buy Back Authority”) “THAT approval be and is hereby given to the Company to, from time to time, purchase through Bursa Malaysia Securities Berhad (“Bursa Securities”) such number of ordinary shares in the Company as may be determined by the Directors of the Company upon such terms and conditions as the Directors may deem fit and expedient in the best interests of the Company provided that: (1) the aggregate number of shares purchased and/or retained as treasury shares shall not exceed 10% of the total number of issued shares of the Company at the time of purchase (“Proposed Renewal of Share Buy Back Authority”); (2) the maximum amount of funds to be utilised for the purpose of the Proposed Renewal of Share Buy Back Authority shall not exceed the Company’s aggregate retained profits; (3) such authority from shareholders of the Company will be effective immediately upon passing of this ordinary resolution and will continue to be in force until:- (i) the conclusion of the next Annual General Meeting (“AGM”) of the Company at which time the authority shall lapse unless by ordinary resolution passed at that meeting, the authority is renewed, either unconditionally or subject to conditions; (ii) the expiration of the period within which the next AGM after that date is required by law to be held; or (iii) revoked or varied by ordinary resolution passed by the shareholders of the Company in a general meeting; whichever occurs first, but not so as to prejudice the completion of purchase(s) by the Company before the aforesaid expiry date and in any event, in accordance with the provisions of the guidelines issued by Bursa Securities or any other relevant authority; AND THAT upon completion of the purchase by the Company of its own shares, the Directors of the Company be and are hereby authorised to:- (a) cancel all or part of the shares so purchased; (b) retain all or part of the shares so purchased as treasury shares; (c) distribute the treasury shares as share dividends to the Company’s shareholders for the time being; (d) transfer the treasury shares or any part thereof as purchase consideration and/or for the purposes of or under an employees’ share scheme; and/ or (e) to resell the treasury shares on Bursa Securities; Ordinary Resolution 13 A Milestone on Our Sustainable Growth Journey 233