Listing Information and Profile

27/06/2016

Profile for Securities of PLC

HIAP TECK VENTURE BERHAD

Instrument Category Securities of PLC
Instrument Type Loan Stocks
Description 
Five (5)-year 5% redeemable convertible unsecured Islamic debt securities ("RCUIDS") issued pursuant to the renounceable rights issue of RM142,581,656.50 nominal value of RCUIDS at 100% of its nominal value on the basis of two (2) RM0.50 nominal value of RCUIDS for every five (5) existing ordinary shares of RM0.50 each in Hiap Teck Venture Berhad ("HTVB") ("HTVB Shares") held as at 5.00 p.m. on 27 May 2016 together with 285,163,313 free detachable warrants ("New Warrants") on the basis of one (1) New Warrant for every one (1) RM0.50 nominal value of RCUIDS subscribed
Listing Date 28 Jun 2016
Issue Date 24 Jun 2016
Issue/ Ask Price Malaysian Ringgit (MYR)   0.5000
Issue Size Indicator Currency
Issue Size in Currency Malaysian Ringgit (MYR)   142,581,656.5000
Maturity Mandatory
Maturity Date 23 Jun 2021
Revised Maturity Date
Name of Guarantor Not Applicable
Name of Trustee Pacific Trustees Berhad
Coupon/Profit/Interest/Payment Rate 
Fixed rate of 5% per annum calculated on the nominal value of the RCUIDS then outstanding
Coupon/Profit/Interest/Payment Frequency 
Payable semi-annually in arrears on the RCUIDS outstanding commencing six (6) months from the Issue Date except that the last periodic profit payment shall be made on the Maturity Date
Redemption 
Subject to HTVB giving irrevocable notice to the holders of the RCUIDS ("RCUIDS Holders") of at least thirty (30) days prior to the Maturity Date, HTVB shall have the option to redeem the outstanding RCUIDS (if not earlier converted) in cash at 100% nominal amount of the RCUIDS, in whole or in part, on the Maturity Date. During such notice period but not later than the eighth (8th) market day prior to the Maturity Date, the RCUIDS Holders shall be entitled to exercise their conversion rights subject to compliance with the conditions for the conversion.

Upon the exercise by HTVB of its option to redeem the RCUIDS on the Maturity Date, HTVB shall pay the RCUIDS Holders (no later than the Maturity Date) all unpaid profit accruing from the immediately preceding profit payment date until but excluding the Maturity Date.
Exercise/Conversion Period 5.00   Year(s)
Revised Exercise/Conversion Period Not Applicable
Exercise/Strike/Conversion Price Malaysian Ringgit (MYR)   0.5000
Revised Exercise/Strike/Conversion Price Not Applicable
Exercise/Conversion Ratio 1:1
Revised Exercise/Conversion Ratio Not Applicable
Mode of satisfaction of Exercise/ Conversion price Tendering of securities
Settlement Type/ Convertible into Physical (Shares)



Remarks : 
The RCUIDS Holders shall have the right to convert all or any amount of the RCUIDS held by them into fully paid-up new HTVB Shares at the Conversion Price at any time during the Conversion Period. 

For avoidance of doubt, the RCUIDS Holders shall not have the right to require HTVB to redeem the RCUIDS on the Maturity Date. The RCUIDS which have been redeemed will be cancelled and cannot be re-sold.

All outstanding RCUIDS which have not been earlier converted or redeemed on the Maturity Date, shall be mandatorily converted into new HTVB Shares at the Conversion Price on the Maturity Date. 


This Announcement is dated 27 June 2016.

Announcement Info

Company Name HIAP TECK VENTURE BERHAD
Stock Name HIAPTEK-LA
Date Announced 27 Jun 2016
Category Listing Information and Profile
Reference Number LIP-27062016-00002


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