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

30. IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES �"ICPS"�
WCT Berhad (66538-K)
annual report 2011
Group/Company
Number of preference
shares of RM0.10 each Amount
2011 2010 2011 2010
'000 '000 RM'000 RM'000
Authorised:
At 1 January/31 December 1,000,000 1,000,000 100,000 100,000
Issued and fully paid:
At 1 January 20,692 37,176 2,069 3,718
Converted to ordinary shares (Note 29) (8,928) (16,484) (893) (1,649)
At 31 December 11,764 20,692 1,176 2,069
A total of 504,657,950 5 years 13.5% non-cumulative ICPS of RM0.10 each at an issue price of RM0.30 per ICPS have
been issued and listed on Bursa Securities on 9 August 2007.
The main features of the ICPS are as follows:
(a) ICPS was issued in registered form and denominated in multiples of RM0.10 each;
(b) ICPS have a tenure of 5 years commencing from and inclusive of the date of issue;
(c) ICPS carry non-cumulative preferential dividend rate of 13.5% (gross) per annum calculated based on the nominal
value of RM0.10 per ICPS. Payment of dividend is at the option of the Company;
(d) ICPS dividend is payable on the market day immediately before the ICPS anniversary date and if such anniversary
date falls on a date which is not a market day, then the next market day. Market day is defined as any day on
which Bursa Securities are open for trading of securities;
(e) The registered holder of the ICPS has the right to convert the ICPS at the conversion price into new ordinary
shares of the Company at any time from the date of listing up to and including the maturity date of the ICPS;
(f) The conversion price shall be satisfied by surrendering 10 ICPS for each new ordinary shares of the Company;
(g) The ICPS are unsecured and shall rank pari passu amongst all ICPS in all respects and without discrimination or
preference. The ICPS shall rank in priority to the ordinary shares of the Company in the event of the winding-up/
liquidation of the Company of which each ICPS confers upon its holders upon a winding-up/liquidation:
(i) the right to payment in cash of the capital then paid-up on it, in priority to any other class of shares in the
capital of the Company; and
(ii) the right (in priority to payment of any dividend to any other class of shares in the capital of the Company)
to any declared and unpaid dividend in respect of the ICPS prior to the issue of a court order to wind up the
Company.
157
NOTES TO THE FINANCIAL STATEMENTS
31 December 2011
cont’d