Asia-Pacific Strategic Investments Limited - Annual Report 2021

Notes to the Financial Statements For the financial year ended 30 June 2021

25

Share capital (continued)

Warrants (continued)

(i)

2018 Warrants A

The Company had on 31 January 2018 issued 7,785,307,748 2018 Warrants A, pursuant to the 2018 Rights cum Warrants Issue A. As a result of the 2018 Rights cum Warrant Issue B and pursuant to the deed poll, adjustments were made to the 2018 Warrants A on 27 July 2018 such that: (a) an additional 2,224,262,313 warrants were issued to then existing holders of the 2018 Warrants A such that the number of additional warrants issued was calculated on the basis of 0.2857 warrants for every one existing 2018 Warrants A held by each warrant holder; and

(b) The exercise price of each 2018 Warrants A is adjusted from S$0.003 to S$0.002. The 2018 Warrants A will expire on 30 January 2023.

(ii)

2018 Warrants B

The Company had on 27 July 2018 issued 6,145,168,199 2018 Warrants B, pursuant to the 2018 Rights cum Warrants Issue B. The 2018 Warrants B will expire on 26 July 2023.

26

Foreign currency translation reserve

Group

Company

2021

2021

2020

2020

S$’000

S$’000

S$’000

S$’000

(17,055)

(15,939)

Beginning of financial year

(17,067)

(15,939)

Net currency translation differences of financial statements of foreign subsidiary corporations Effect of dilution in non-controlling interests (Note 18)

935

-

12

-

(13)

-

-

-

(16,133)

(15,939)

End of financial year

(17,055)

(15,939)

The foreign currency translation reserve is non-distributable.

ANNUAL REPORT 2021

103