NIHSIN-PA

0.030

(%)

Listing Information & Profile

Profile for Securities of PLC

NI HSIN RESOURCES BERHAD

Instrument Category Securities of PLC
Instrument Type Preference Shares
Description
675,863,030 NEW REDEEMABLE CONVERTIBLE PREFERENCE SHARES ("RCPS") IN NI HSIN RESOURCES BERHAD PURSUANT TO THE RIGHTS ISSUE OF RCPS
Listing Date 08 Mar 2021
Issue Date 03 Mar 2021
Issue/ Ask Price Malaysian Ringgit (MYR)   0.0100
Issue Size Indicator Unit
Issue Size in Unit 675,863,030
Maturity Mandatory
Maturity Date 02 Mar 2026
Revised Maturity Date
Name of Guarantor Not Applicable
Name of Trustee Not Applicable
Coupon/Profit/Interest/Payment Rate
A fixed preference dividend rate per annum of 3% of the RCPS Issue Price (during the tenure of RCPS and up to the date of conversion), shall be payable out of post cumulative taxation profits.
Coupon/Profit/Interest/Payment Frequency
The dividends are to be paid annually in arrears.
Redemption
The RCPS can be redeemed during the beginning of the 5th year after issuance until maturity at the RCPS Issue Price plus any accumulated undeclared dividends up to the date of redemption.  The redemption shall be at the option of the holders.

All remaining RCPS that are not converted or redeemed during the Tenure shall be mandatorily redeemed by our Company at the RCPS Issue Price plus any accumulated undeclared dividends up to the date of redemption, subject to requirement of Section 72(6) of the Companies Act 2016, currently in force and as may be amended from time to time and any re-enactment thereof.
Exercise/Conversion Period 5.00   Year(s)
Revised Exercise/Conversion Period Not Applicable
Exercise/Strike/Conversion Price Malaysian Ringgit (MYR)   0.1200
Revised Exercise/Strike/Conversion Price Not Applicable
Exercise/Conversion Ratio 12:1
Revised Exercise/Conversion Ratio Not Applicable
Mode of satisfaction of Exercise/ Conversion price Cash and/or tendering of securities
Settlement Type/ Convertible into Physical (Shares)



Remarks :
The RCPS may be converted into new Ni Hsin Shares in the following manner: 

(a)	by surrendering 12 RCPS for 1 new Ni Hsin Share; or

(b)	by paying the difference between the aggregate of RCPS Issue Price surrendered and the RCPS Conversion Price, if any, in cash, for every 1 new Ni Hsin Share.

The RCPS will be listed simultaneously with the Additional Warrants on 8 March 2021.

The announcement is dated 5 March 2021.


Announcement Info

Company Name NI HSIN RESOURCES BERHAD
Stock Name NIHSIN-PA
Date Announced 05 Mar 2021
Category Listing Information and Profile
Reference Number LIP-03032021-00003