ANNUAL REPORT 2008 - KNM Steel Sdn Bhd
ANNUAL REPORT 2008 - KNM Steel Sdn Bhd
ANNUAL REPORT 2008 - KNM Steel Sdn Bhd
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CORPORATE GOVERNANCE<br />
STATEMENT (CONT’D)<br />
2. Share Buy-Backs<br />
The Company had purchased 36,635,100 of its own shares during the financial year ended 31 December<br />
<strong>2008</strong>, all of which were held as treasury shares and maintained by the Company. Details are as follows:<br />
Total<br />
Lowest Highest consideration<br />
No. of price paid price paid Average paid (including<br />
shares Par value for each for each price per transaction<br />
bought per share share share share costs)<br />
Month back (RM) (RM) (RM) (RM) (RM)<br />
January – – – – – –<br />
February – – – – – –<br />
March – – – – – –<br />
April – – – – – –<br />
May – – – – – –<br />
June – – – – – –<br />
July – – – – – –<br />
August – – – – – –<br />
September – – – – – –<br />
October 26,190,200 0.25 0.415 0.690 0.595 15,594,145.75<br />
November 7,100,000 0.25 0.540 0.640 0.575 4,081,718.43<br />
December 3,344,900 0.25 0.395 0.425 0.410 1,372,750.12<br />
Total 36,635,100 0.575 21,048,614.30<br />
3. Related Party Transactions<br />
All related party transactions for <strong>2008</strong> are set out in Note 27 to the Financial Statements.<br />
An internal compliance framework exists to ensure the Company meets its obligations under the Listing<br />
Requirements, including obligations relating to related party transactions. The Audit Committee will review all<br />
related party transactions and report the same to the Board.<br />
A Director who has an interest in a transaction abstains from deliberation and voting on the relevant<br />
resolution in respect of such transaction at the Board and at any general meeting convened to consider such<br />
transactions.<br />
4. Options, Warrants or Convertible Securities<br />
No options, warrants or convertible securities were issued by the Company during the financial year under<br />
review except for the 300,000 ESOS share options as granted to the Independent Non-Executive Chairman<br />
pursuant to the shareholders’ mandate obtained at the Company’s Extraordinary General Meeting held on 27<br />
March <strong>2008</strong>.<br />
5. American Depository Receipt (“ADR”) or Global Depository Receipt (“GDR”) programme<br />
The Company did not sponsor any ADR or GDR programme during the financial year under review.<br />
6. Imposition of Sanctions and/or Penalties<br />
There were no sanctions and/or penalties imposed on the Company and its subsidiaries, Directors or<br />
management by any relevant regulatory bodies.<br />
<strong>KNM</strong> GROUP BERHAD<br />
30<br />
<strong>ANNUAL</strong> <strong>REPORT</strong> <strong>2008</strong>
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