'%" IRREDEEMABLE#CONVERTIBLE#PREFERENCE#SHARES#AND#PERPETUAL#BOND#(CONT’D") Perpetual!bond Group!and!Company +"+$ +"++ RM’""" RM’"""! At!#!January !&&"%"")! !/"0&0-$! Issuance!of!perpetual!bond !–! !$+#&###! Distribution!for!the!financial!year !))%&"'! !1"&$1,! Distribution!paid!for!the!financial!year !())%'"&) !(+-&-+/) At!$#!December !&&"%#"$! !%%#&##1! On!,!April!"#""&!the!Company!issued!a!total!of!RM$+#!million!in!nominal!value!of!senior!ranking!Perpetual!Sukuk!(“Sukuk!Musharakah”)! pursuant!to!a!Sukuk!Musharakah!Programme!(“Perpetual!bond”)!of!up!to!RM"!billion!in!nominal!value'!The!Perpetual!bond!is!established! to!raise!funds!as!and!when!required!to!be!utilised!for!Shariah-compliant!purposes!which!include!refinancing!existing!financing.debt! obligations!(whether!in!whole!or!in!part)&!and.or!to!finance!working!capital!requirements&!investments&!capital!expenditure!and.or! general!corporate!purposes!of!the!Group'! The!salient!features!of!the!Perpetual!bond!were!as!follows) (i)! the!Perpetual!bond!is!issued!under!the!Shariah!principle!of!Musharakah' (ii)! perpetual!in!tenure&!where!the!Company!has!a!call!option!to!redeem!the!Perpetual!bond!at!the!end!of!the!/th!year!and!on!each! periodic!distribution!date!thereafter' (iii)! the!Company!also!has!the!option!to!redeem!the!Perpetual!bond!upon!the!occurrence!of!an!Accounting!Event&!Tax!Event!and.or! any!Stepped!Up!Event' (iv)! the!expected!periodic!distribution!up!to!year!/!is!03!per!annum!payable!semi-annually'!If!the!Company!does!not!exercise!its!option! to!redeem!at!the!end!of!the!/th!year&!the!periodic!distribution!increases!by!"3!per!annum!in!year!%!and!subsequently!the!periodic! distribution!increases!by!$3!per!annum!in!year!0!onwards!and!subject!to!a!maximum!rate!of!$/3!per!annum' (v)! deferred!periodic!distribution&!if!any&!will!be!cumulative!and!shall!be!added!for!the!purpose!of!calculating!the!Additional!Periodic! Distribution!Amount' (vi)! payment!obligations!on!the!Perpetual!bond!will!at!all!times&!rank!ahead!of!the!holders!of!Junior!Obligations!of!the!Company!and! rank!pari!passu!with!all!other!present!and!future!unsecured&!unconditional!and!unsubordinated!obligations!of!the!Company' (vii) Accounting!Event If!as!a!result!of!any!changes!or!amendments!to!the!Malaysian!Financial!Reporting!Standards!(“MFRS”)!in!Malaysia!or!any!other! accounting! standards! that! may! replace! MFRS! for! the! purposes! of! the! Issuer’s! consolidated! financial! statements&! the! Sukuk! Musharakah! are! no! longer! recorded&! or! will! no! longer! be! recorded! entirely! as! “equity”! pursuant! to! the! Relevant! Accounting! Standard&!an!Accounting!Event!shall!have!occurred' 267 FINANCIAL STATEMENTS & OTHER INFORMATION
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