NOTES TO THE FINANCIAL STATEMENTS
FOR THE FInAncIAL yEAR EnDED 30 JunE 2016
23
SHARE CAPITAL AND TREASURY SHARES (CONT'D)
(a)
Share capital (cont'd)
All shares rank equally with regard to the Company’s residual assets.
The holders of ordinary shares (except treasury shares) are entitled to receive dividends as andwhen declared
by the Company. All ordinary shares have no par value and carry one vote per share without restrictions.
On 6 January 2015, 13,537,464 ordinary shares of no par value were issued at the market price of $0.541
each and used as part of the purchase consideration for the acquisition of subsidiaries (note 14).
On 2 January 2015, the Company issued 2,800,000 ordinary shares of $0.50 per share for cash to provide
fund for the expansion of the Group’s operations.
On 15 June 2015, the Company issued 9,000,000 ordinary shares of $0.58 per share for cash to provide
fund for the expansion of the Group’s operations.
On 29 February 2016, the Company issued 142,933,295 ordinary shares pursuant to the bonus issue on
the basis of one bonus share for every one existing ordinary share. The bonus shares are issued as fully
paid at nil consideration to entitled shareholders, without capitalisation of the Company’s reserves and
rank pari passu in all respects with existing ordinary shares in the capital of the Company.
(b)
Treasury shares
Group and Company
2016
2015
Number of
Number of
shares
shares
‘000
$’000
‘000
$’000
At 1 July
–
–
–
–
Share buyback
3,680
1,966
–
–
Treasury shares reissued pursuant to the
acquisition of a subsidiary (note 14)
(2,540)
(1,549)
–
–
Loss on reissuance of treasury shares
transferred to other reserves
–
(44)
–
–
Bonus shares issued during the year
60
–
–
–
At 30 June
1,200
373
–
–
Treasury shares relate to ordinary shares of the Company that is held by the Company.
The Company acquired 3,680,000 (2015: Nil) shares in the Company through purchases on the Singapore
Exchange during the financial year. The total amount paid to acquire the shares was $1,966,000 (2015:
$Nil) and this was recorded as a component within shareholders’ equity.
On 15 January 2016, 2,539,683 treasury shares were transferred as part consideration for acquisition of
a subsidiary.
Subsequent to the aforementioned share buyback, bonus issue and transfer, the number of treasury
shares is 1,200,000 (2015: Nil).
100
ISOTEAM LTD.
ANNUAL REPORT 2016