170 CSE Global Limited 16. Share capital and treasury shares (cont’d) (a) Share capital (cont’d) The holders of ordinary shares except treasury shares are entitled to receive dividends as and when declared by the Company. All ordinary shares carry one vote per share without restriction. The ordinary shares have no par value. In 2024, 60,000,000 ordinary shares of the Company at the issue price of S$0.40 were issued following the completion of the placement, raising net proceeds of $23,209,000. The equity raised was for the acquisition of synergistic communication businesses. During the year, the net proceeds of S$14,345,000 raised from the placement exercise had been utilised to fund the acquisition of RFC Wireless, Inc. (b) Treasury shares Group and Company 2024 2023 No of shares Amount No of shares Amount ’000 $’000 ’000 $’000 At 1 January and 31 December (413) (244) (3,666) (1,910) Treasury shares relate to ordinary shares of the Company that are held by the Company. (c) Share-based payment reserve Share-based payment reserve represents the equity-settled compensation under the CSE Performance Share Plan. The reserve is made up of the cumulative value of services received from employees that has vested during the year. 17. Other reserves Other reserves comprised the differences in share prices resulting from the re-issuance of treasury shares ($142,000) (2023: $151,000), and premium paid on acquisition of non-controlling interests from the purchase of Transtel Arabia Limited Co and Transtel Engineering (M) Sdn Bhd of approximately $$9,875,000 and ($32,000) (2023: $9,875,000 and ($32,000)) respectively. 18. Foreign currency translation reserve The foreign currency translation reserve represents exchange differences arising from the translation of the financial statements of foreign operations whose functional currencies are different from that of the Group’s presentation currency. NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2024
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