axiata group berhad | annual report 2015
114
The Dividend Reinvestment Scheme (“DRS”) as stated in Note 13(a) to the financial statements was made applicable to the dividends declared during the
financial year whereby shareholders was given the option to reinvest the whole or part of the dividend into new ordinary shares of the Company.
The Board of Directors has recommended a final tax exempt dividend under the single tier system of 12 sen per ordinary share of RM1 each of the Company
in respect of financial year ended 31 December 2015 amounting to a total of RM1,058.0 million, based on the issued and paid-up capital of the Company as
at 31 December 2015. The proposed dividend is subject to approval by the shareholders at the forthcoming Annual General Meeting (“AGM”).
The Board of Directors also determined that the Company’s DRS will apply to the proposed final dividend. This will be subject to the approval of shareholders
at the forthcoming AGM for the renewal of the authority for the Directors of the Company to allot and issue the new ordinary shares pursuant to the DRS
and the approval of Bursa Securities Berhad.
RESERVES AND PROVISIONS
All material transfers to or from reserves or provisions during the financial year have been disclosed in the financial statements.
AXIATA SHARE SCHEME
The Performance-Based ESOS of the Company was approved by its shareholders at an Extraordinary General Meeting (“EGM”) held on 24 March 2009 and
implemented on 16 April 2009.
On 1 June 2011, the Company’s shareholders had, at the Nineteenth (19
th
) AGM of the Company, approved the amendments to the Bye-Laws of the ESOS
to include a RSP. Accordingly, the existing Performance-Based ESOS was renamed as Axiata Share Scheme.
The details of the Axiata Share Scheme are disclosed in Note 14(a) to the financial statements.
There is no Performance-Based ESOS granted to the employees of the Group during the financial year.
DIRECTORS
The Directors who have held office during the period since the date of last report are as follows:
Tan Sri Dato’ Azman Hj. Mokhtar
Dato’ Sri Jamaludin Ibrahim
Tan Sri Ghazzali Sheikh Abdul Khalid
Datuk Azzat Kamaludin
Dato’ Abdul Rahman Ahmad
David Lau Nai Pek
Juan Villalonga Navarro
Bella Ann Almeida
Dr. Muhamad Chatib Basri
Appointed on 25 February 2015
Kenneth Shen
In accordance with Article 93 of the Company’s Article of Association, Dato’ Sri Jamaludin Ibrahim, Juan Villalonga Navarro and Bella Ann Almeida are
scheduled to retire at the Twenty-fourth (24
th
) AGM. A retiring Director shall be eligible for re-election and shall retain office until the close of the meeting at
which he/she retires.
In accordance with Section 129 of the Companies Act, 1965, Tan Sri Ghazzali Sheikh Abdul Khalid and Datuk Azzat Kamaludin who both have reached seventy
(70) years old will have to be re-appointed as Directors of the Company at the Twenty-fourth (24
th
) AGM.
DIRECTORS’
REPORT
