BIMB Integrated Annual Report 2019

25 SHARE CAPITAL (CONTINUED) (a) Ordinary shares On 29 January 2019, the Company increased its issued and paid-up share capital from 1,693,566,014 to 1,764,282,714 via the issuance of 70,716,700 new ordinary shares at a consideration of RM3.18 each arising from the Dividend Reinvestment Plan. On 26 January 2018, the Company increased its issued and paid-up share capital from 1,637,741,014 to 1,693,566,014 via the issuance of 55,825,000 new ordinary shares at a consideration of RM3.72 each arising from the Dividend Reinvestment Plan. (b) Warrants The detachable warrants are at an issue price of RM4.25 per rights share on the basis of two (2) rights share together with two (2) warrants for every five (5) existing shares. On 11 December 2013, the Company issued 426,715,958 new ordinary shares of RM1.00 each together with 426,715,958 free detachable warrants at the agreed conversion term. The warrants will expire at the end of ten years from the date of issuance. No warrants were converted during the financial year ended 31 December 2019 (2018: Nil). As at 31 December 2019, 426,715,078 (2018: 426,715,078) warrants remained unexercised. 26 RESERVES 26.1 Breakdown of reserves are as follows: Group Note 2019 2018 RM’000 RM’000 Other reserves 26.2 282,726 60,985 Retained earnings 2,503,634 2,081,542 2,786,360 2,142,527 Acquisition reserve 26.3 (1,199,747) (1,199,747) 1,586,613 942,780 Company Restated Restated 31.12.2019 31.12.2018 1.1.2018 RM’000 RM’000 RM’000 Warrant reserves 129,300 129,300 129,300 Fair value reserves – – 178 Retained earnings 224,918 157,606 141,167 354,218 286,906 270,645 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 (CONTINUED) 244 Integrated Annual Report 2019 Group Overview Sustaining The Group Management Discussion & Analysis Group Governance