BAKERTECHNOLOGYLIMITED
ANNUALREPORT2013
123
Notes to the
Financial Statements
for the financial year ended 31December 2013
26. Sharecapital
GroupandCompany
2013
2012
No. of
shares
$
No. of
shares
$
Issued and fully paid :
At 1 January
736,806,714 50,316,870 700,168,881 36,053,443
Issuance of new shares from conversionof warrants
135,334,130 36,533,755 36,637,833 11,720,257
Issuance of warrants
–
–
– 2,801,180
Warrant issue expenses
–
–
–
(258,010)
At 31December
872,140,844 86,850,625 736,806,714 50,316,870
The holders of ordinary shares are entitled to receive dividends as andwhendeclaredby theCompany. All ordinary shares carry one
vote per sharewithout restriction. The ordinary shares have nopar value.
As at 31December, theCompany has the following outstandingwarrants:
No. ofwarrants
Expirydate
Exercise
price
2013
2012
2012Warrants
5 June 2015 $0.185
144,706,822 280,040,952
In June2012, theCompany completed its renounceablenon-underwritten rights issueof 280,117,952warrants at an issue priceof
$0.01 for eachwarrant (”2012Warrants”). Eachwarrant carries the rights to subscribe for 1newordinary share in the capital of the
Company at anexercisepriceof $0.270 for eachnew share. Thewarrantswere issuedon thebasis of 2warrants for every5existing
ordinary shares in the capital of theCompany held by entitled shareholders as at book closure date.
At theCompany's AGMheldon25April 2013, the shareholders approved a first andfinal tax exempt (one-tier) dividendof $0.015
per ordinary share and a special tax exempt (one-tier) dividendof $0.085per ordinary share for the year ended31December 2012.
As the special dividend was distributed out of reserves which were attributable to profits or gains arising from the disposal of
investments by theCompany, the exercise price of the 2012Warrants of $0.270 per sharewas adjusted to $0.185 per share on 13
May 2013, so as to reflect the lower intrinsic value of theCompany's share after the special dividend.
During the year, 135,258,130warrants and76,000warrantswereexercisedat $0.270and$0.185each respectively to subscribe for
a total of 135,334,130 shares in theCompany.
Further details regarding the exercise price of the 2012warrants are disclosed inNote 35.
