NTUC Income AR 2019

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 20. SHARE CAPITAL 2019 2018 2019 2018 Number of shares $’000 $’000 Shareholders' Fund Authorised: 100,000,000 shares of $10 each 100,000,000 100,000,000 1,000,000 1,000,000 Common Shares 2019 2018 2019 2018 Number of shares $’000 $’000 Issued and fully paid common shares: At 1 January 32,779,079 98,808,267 327,791 988,083 Issue of shares 146,234 174,930 1,462 1,749 Conversion to Permanent Shares – (66,058,822) – (660,588) Redemption of shares (138,190) (145,296) (1,382) (1,453) At 31 December 32,787,123 32,779,079 327,871 327,791 2019 2018 2019 2018 Issue of shares Number of shares $’000 $’000 Shares issued to employees for long service award 18,050 19,510 180 195 Shares issued for cash in respect of new subscriptions 128,184 155,420 1,282 1,554 146,234 174,930 1,462 1,749 Permanent Shares 2019 2018 2019 2018 Number of shares $’000 $’000 Issued and fully paid permanent shares: At 1 January 66,058,822 – 660,588 – Conversion from Common Shares – 66,058,822 – 660,588 At 31 December 66,058,822 66,058,822 660,588 660,588 The newly issued shares rank pari passu in respect of distribution of dividends and bonus shares with the existing shares. ANNUAL REPORT 2019 131