Notes to the Financial Statements - Cahaya Mata Sarawak Bhd

142
Notes to the Financial Statements
For the fi nancial year ended 31 December 2011
30. CMS Income Securities (contd.)
(b) The salient features of the NCRPS are as follows:
(i) The NCRPS are effectively stapled to the Bonds in that the NCRPS and the Bonds are issued
simultaneously to the same party and the coupon payment obligations under the Bonds are
dependent on the payments made under the NCRPS;
(ii) The NCRPS do not have a fi xed tenor but are redeemable at any time within the last one year
of the tenor of the respective series of Bonds to which the NCRPS are linked, at a premium of
RM999 per share;
Cahya Mata Sarawak Berhad
Total number Tenor
Serial of NCRPS (years)
A 30 1
B 50 2
C 70 3
D 80 4
E 85 5
F 85 6
400
(iii) The NCRPS holders have the right to pre-determined dividend rates in relation to the interest
payment obligations which would otherwise be paid on the redeemable bonds linked thereto;
(iv) The NCRPS do not carry any rights to participate in the profi ts or surplus assets of the Company;
(v) The NCRPS shall not be converted to ordinary shares of the Company;
(vi) The NCRPS holders have the right on a winding-up or other return to capital, to payment, prior to
all other shares in the Company;
(vii) The NCRPS holders are not entitled to voting rights at any general meeting of the Company
except on resolutions to amend the NCRPS holders’ rights, to declare dividends to other classes
of shares whilst there remain preference dividends in arrears, or to commence dissolution of the
Company; and
(viii) The NCRPS are not listed on any boards of Bursa Securities.