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RENOUNCEABLE RIGHTS ISSUE OF 977,779,351 NEW IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES ("ICPS") IN SUNWAY BERHAD ("SUNWAY") AT AN ISSUE PRICE OF RM1.00 PER ICPS ON THE BASIS OF ONE ICPS FOR EVERY FIVE EXISTING ORDINARY SHARES ("SUNWAY SHARES") IN THE COMPANY HELD BY THE ENTITLED SHAREHOLDERS AT 5.00 P.M. ON 6 NOVEMBER 2020
Subject to the availability of profits, Sunway shall at the discretion of the Board of Directors of Sunway pay an indicative preferential dividend on a semi-annual basis at the rate of 5.25% per annum calculated based on the issue price of RM1.00 per ICPS.
Semi-annual basis
The ICPS are convertible in the following manner: (i) 50% of the outstanding ICPS shall be mandatorily converted into new Sunway Shares on the market day immediately preceding the 4th anniversary of the issue date of the ICPS at the conversion price of RM1.00 per Sunway Share ("Conversion Price"); and (ii) the remaining balance of the ICPS shall be mandatorily converted into new Sunway Shares on the maturity date as stated above at the Conversion Price. If the conversion results in a fractional entitlement to Sunway Shares, such fractional entitlement shall be disregarded and no refund or credit, whether in the form of ICPS, cash or otherwise, shall be given for the disregarded fractional entitlement. This announcement is dated 7 December 2020.