Change - S P Setia Berhad

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118 Annual report 2008 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2008 24. SHARE CAPITAL (cont’d) Warrants 2008/2013 As at 31 October 2008, 7,790,655 out of the total number of 168,151,302 Warrants had been exercised. The salient terms of the Warrants 2008/2013 are as follows: (a) The Warrants are constituted by a Deed Poll executed on 19 November 2007. (b) The Warrants are trade separately. (c) The Warrants can be exercised any time during the tenure of 5 years commencing from the date of issue, 22 January 2008 to 21 January 2013 (“Exercise Period”). Warrants not exercised during the Exercise Period will lapse and cease to be valid. (d) (e) (f) (g) Each Warrant entitles the registered holder to subscribe for one new ordinary share (“Shares”) in the Company. RM4.48 is payable in respect of each new share issued upon exercise of the Warrants (“the Exercise Price”). The Exercise Price and the number of outstanding Warrants shall be subjected to the adjustments in accordance with the terms and provisions of the Deed Poll during the Exercise Period. Subject to the provisions in the Deed Poll, the Exercise Price and the number of Warrants held by each Warrant holder shall from time to time be adjusted by the Company in consultation with the approved adviser and certified by the auditors appointed by the Company. Subject to the provisions in the Deed Poll, the Company is free to issue shares to shareholders either for cash or as a bonus distribution and further subscription rights upon such terms and conditions as the Company sees fit but the Warrant holders will not have any participating rights in such issues unless otherwise resolved by the Company in general meeting. 25. REDEEMABLE SERIAL BONDS On 23 November 2007, the Company issued RM500 million nominal value of 2.00% redeemable serial bonds (“Bonds”) in 2 series, as follows: Nominal Series value Maturity date RM’000 1 250,000 23 November 2010 2 250,000 23 November 2012 The Bonds are required to be redeemed fully by the Company at nominal value on the date of maturity and the interest on the Bonds at 2.00% per annum is payable semi-annually in arrears with the last payment on the date of the maturity of the Bonds. Group Company 2008 2007 2008 2007 RM’000 RM’000 RM’000 RM’000 Redeemable serial bonds (unsecured) 500,000 – 500,000 – Less: Unamortised discount (39,423) – (39,423) – 460,577 – 460,577 –
119 S P <strong>Setia</strong> <strong>Berhad</strong> Group NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2008 25. REDEEMABLE SERIAL BONDS (cont’d) The redeemable serial bonds are payable as follows: Group Company 2008 2007 2008 2007 RM’000 RM’000 RM’000 RM’000 Later than one year but not later than five years 460,577 – 460,577 – 26. LONG TERM LOANS Secured Group Company 2008 2007 2008 2007 RM’000 RM’000 RM’000 RM’000 Total outstanding balances on long term loans 457,954 612,579 – – Repayments due within the next 12 months included under short term borrowings (see note 32) (33,647) (79,831) – – Repayments due later than 12 months included under non-current liabilities 424,307 532,748 – – The term loans are repayable as follows: – not later than one year 33,647 79,831 – – – later than one year but not later than five years 399,645 527,442 – – – later than five years 24,662 5,306 – – 457,954 612,579 – – The long term loans are secured by various fixed charges and deeds of assignment over various lands belonging to the Group as indicated in notes 3, 4, 5 and 15 above, sinking fund accounts and escrow accounts as indicated in notes 22 and 23 above.
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embracing Change Annual Report 2008
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Change - S P Setia Berhad

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