WCT-Page 30 to ProxyForm (2.4MB).pdf - Announcements - Bursa ...

148
WCT Berhad (66538-K)
annual report 2011
NOTES TO THE FINANCIAL STATEMENTS
31 December 2011
cont’d
27. ISLAMIC MEDIUM TERM NOTES �"IMTN"� cont’d
On 15 April 2008, the Company drawn down RM200 million of the IMTN under the IMTN Programme with the tenure
of 3 years from issue date. The maturity date of the IMTN is 16 April 2011 and the yield to maturity at issuance date
was 4.95%.
On 30 June 2010, the Company drawn down RM100 million of the IMTN under the IMTN Programme with the tenure
of 3 years from issue date. The maturity date of the IMTN is 28 June 2013 and yield to maturity at issuance date was
5.10%.
The IMTN shall have a limit of RM300 million in nominal value and shall be made available to the Issuer based on the
Islamic principles of Musyarakah.
28. SERIAL FIXED RATE BONDS �"BONDS"�
The Bonds are repayable as follows:
Group/Company
2011 2010
RM'000 RM'000
Later than 1 year and not later than 2 years 293,878 -
Later than 2 years and not later than 5 years 264,615 545,991
558,493 545,991
The Company issued RM600 million of Bonds in December 2010 in 2 series and have tenures of 3 and 5 years with
157,935,129 rights to allotment of warrants on a bought deal basis to the Primary Subscriber. All the Bonds were issued
in one lump sum at a discount to their nominal value and redemption is at nominal value of Bonds.
Upon issuance, the Primary Subscriber detached the provisional rights to allotment of warrants and placed out only
the Bonds to secondary investors. The Primary Subscriber or the Offeror offered the provisional rights to the allotment
of the warrants for sale to the existing shareholders of the Company on the basis of 1 provisional right allotment to 1
warrant for every 5 WCT shares held on at an offer price of RM0.34 per warrant.
The coupon is 2.5% per annum and payable semi-annually in arrears commencing 6 months after the issue date. The yield
to maturity was in the range of 4.90% to 5.10%. The Bonds are direct, unconditional, unsecured and unsubordinated.