KENANGA ANNUAL REPORT 2019

216 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2019 27. SHARE CAPITAL Group and Bank Number of Ordinary Shares Amount 2019 ‘000 2018 ‘000 2019 RM’000 2018 RM’000 Issued and fully paid: Ordinary shares At 1 January 722,741 722,547 246,249 246,137 Issuance of shares pursuant to ESS exercise - 194 - 112 At 31 December 722,741 722,741 246,249 246,249 Treasury shares Group and Bank Number of Ordinary Shares Amount 2019 ‘000 2018 ‘000 2019 RM’000 2018 RM’000 At 1 January 23,744 - 16,808 - Share buy back 310 23,744 182 16,808 At 31 December 24,054 23,744 16,990 16,808 The shareholders of the Bank, via an ordinary resolution passed at the Annual General Meeting held on 30 May 2019, 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 310,000 (2018: 23,743,900) ordinary shares, at an average price of RM0.5786 (2018:RM0.7046) from the open market. The share buy-back transactions were financed by internally generated funds. As at 31 December 2019, the total number of shares bought was 24,053,900 and were held as treasury shares in accordance with the provisions of Section 127 of the Companies Act, 2016. Accordingly the adjusted issued and paid-up share capital of the Company (excluding 24,053,900 treasury shares) as at 31 December 2019 was RM229,258,908 (2018: RM229,439,987) comprising 698,687,499 (2018: 698,997,499) shares.