Page 60 - Annual Report 2021

Overview Leadership Message Business Segment Moving Forward Our Resources Working for a Corporate Financial
Review Plan Better Tomorrow Governance statements

DIrECTOrS’ rEPOrT

rEsErVEs anD PrOVisiOns
There were no material transfers to or from reserves or provision during the financial year.

issuEs OF sHarEs anD DEBEnturEs
During the financial year:-
(a) there were no changes in the issued and paid-up share capital of the Company; and
(b) there were no issues of debentures by the Company.

OPtiOns grantED OVEr unissuED sHarEs
During the financial year, no options were granted by the Company to any person to take up any unissued shares in the
Company.

BaD anD DOuBtFul DEBts
Before the financial statements of the Group and of the Company were made out, the directors took reasonable steps to
ascertain that action had been taken in relation to the writing off of bad debts and the making of allowance for impairment
losses on receivables and satisfied themselves that all known bad debts had been written off and that adequate allowance
had been made for impairment losses on receivables.

At the date of this report, the directors are not aware of any circumstances that would require the further writing off of bad
debts, or the additional allowance for impairment losses on receivables in the financial statements of the Group and of the
Company.

currEnt assEts
Before the financial statements of the Group and of the Company were made out, the directors took reasona- ble steps to
ensure that any current assets, which were unlikely to be realised in the ordinary course of busi- ness, including their value
as shown in the accounting records of the Group and of the Company, have been written down to an amount which they
might be expected so to realise.

At the date of this report, the directors are not aware of any circumstances which would render the values at- tributed to
the current assets in the financial statements misleading.

ValuatiOn MEtHODs
At the date of this report, the directors are not aware of any circumstances which have arisen which render adherence to the
existing methods of valuation of assets or liabilities of the Group and of the Company misleading or inappropriate.

60 UM Holdings Group