'%" IRREDEEMABLE#CONVERTIBLE#PREFERENCE#SHARES#AND#PERPETUAL#BOND#(CONT’D") Perpetual!bond!(cont’d*) The!salient!features!of!the!Perpetual!bond!were!as!follows)!(cont’d') (viii) Tax!Event If!the!Issuer!has!or!will!become!obliged!to!pay!additional!amounts!of!tax!(“Additional!Amounts”)!or!increase!the!payment!of!such! Additional!Amounts!or!the!Expected!Periodic!Distribution!Amount!made!by!the!Issuer!would!not!in!the!immediately!following! Periodic!Distribution!Date!be!fully!tax!deductible!by!the!Issuer!for!Malaysian!income!tax!purposes!as!a!result!of) (a) any!change!in&!or!amendment!to&!the!laws!(or!any!regulations&!rulings!or!other!administrative!pronouncements!of!Malaysia)!or! any!political!subdivision!or!any!authority!thereof!or!therein!having!power!to!tax*!or (b) any!change!in!the!application!or!o2cial!interpretation!of!such!laws&!regulations&!rulings!or!other!administrative!pronouncements' Which!change!or!amendment!is!made!public!on!or!after!the!issue!date!of!the!relevant!Sukuk!Musharakah!and!such!obligations! cannot!be!avoided!by!the!Issuer!taking!reasonable!measures!available!to!it&!then!a!Tax!Event!shall!have!occurred' (ix) Stepped!Up!Event The!Periodic!Distribution!Rate!of!the!Sukuk!Musharakah!shall!be!stepped!up!to!the!Maximum!Rate!from!the!expiry!of!1/!days! period!from!the!date!any!of!the!Stepped!Up!Events!first!occurred!until!such!Stepped!Up!Event!ceases!to!subsist' (x) Optional!Deferral!of!Distribution! The!Company!may&!at!its!sole!discretion&!opt!to!(i)!defer!the!periodic!distribution!or!(ii)!further!defer!any!outstanding!arrears!of! deferred!periodic!distribution&!provided!that!it!has!not!during!the!last!six!months!declared!or!paid!any!dividend!or!payment!or! other!distributions!in!respect!of!or!redeem!or!repurchase!its!ordinary!shares!or!any!other!securities!of!the!Company!ranking!junior! to!or!pari!passu!with!the!Perpetual!Sukuk'!The!deferred!periodic!distribution&!if!any&!will!be!cumulative!and!will!not!earn!additional! profits!(i'e'!there!will!be!no!compounding!of!the!periodic!distribution!being!deferred)'!There!is!no!limit!as!to!the!number!of!times! the!expected!periodic!amount!and!the!arrears!of!deferred!periodic!distribution!can!be!deferred' Notwithstanding!the!optional!deferral!stipulated!in!above&!all!outstanding!arrears!of!deferred!periodic!distribution!shall!be!due!and! payable!within!$/!days!from!the!date!the!Company!declared!or!paid!any!dividend!or!payment!or!other!distributions!in!respect!of!or! redeem!or!repurchase!its!ordinary!shares!or!any!other!securities!of!the!Company!ranking!junior!to!or!pari!passu!with!the!Perpetual! Sukuk'! (xi) Optional!Redemption The!Company!may&!at!its!sole!discretion&!redeem!at!par&!at!the!relevant!exercise!price!on!date!to!be!determined!prior!to!each! issuance!of!the!Sukuk!Musharakah!where!the!Optional!Redemption!may!first!be!exercised!by!the!Issuer'! NOTES TO THE FINANCIAL STATEMENTS FOR!THE!FINANCIAL!YEAR!ENDED!'$!DECEMBER!"%"' 268 ANNUAL REPORT 2023
RkJQdWJsaXNoZXIy NDgzMzc=