FGV Annual Report 2013

Felda Global Ventures Holdings Berhad 286 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2013 37 REDEEMABLE AND NON-VOTING CONVERTIBLE PREFERENCE SHARES (“RCPS”) AND REDEEMABLE CUMULATIVE AND NON-VOTING CONVERTIBLE PREFERENCE SHARES (“RCCPS”) Group and Company Number of preference shares of RM0.01 each Amount 2013 2012 2013 2012 RM’000 RM’000 RM’000 RM’000 Authorised RCPS/RCCPS of RM0.01 each: At 1 January - 1,250,000 - 12,500 Conversion - (1,250,000) - (12,500) At 31 December - - - - Issued and fully paid RCPS/RCCPS of RM0.01 each: At 1 January - 900,539,500 - 9,005 Redeemed during the financial year: - RCPS A - (252,460,000) - (2,524) - RCPS B - (77,489,500) - (775) - RCCPS A - (164,030,000) - (1,640) - RCCPS B - (300,470,000) - (3,005) - RCCPS C - (69,970,000) - (700) - RCCPS D - (36,120,000) - (361) - (900,539,500) - (9,005) At 31 December - - - - Financial year ended 31 December 2012 On 17 May 2012, the Company converted its 329,949,500 Redeemable and Non-voting Convertible Preference Shares (“RCPS”) and 570,590,000 Redeemable Cumulative and Non-voting Convertible Preference Shares (“RCCPS”) at a nominal value of RM0.01 and a premium of RM0.99 per shares into 900,539,500 ordinary shares of RM1.00 each, resulting in an increase the issued and paid up share capital of the Company by RM900,539,500 from RM1,767,612,000 to RM2,668,151,500. The key terms of RCPS were as follows: (i) The dividend payable is based on the performance of the investment to be declared by the Board of Directors of the Group and Company as they shall deem fit; (ii) The holder of the RCPS does not have the right to vote at any general meeting except for as stated in the Schedule 2 of the Subscription Agreement; (iii) The holder of the RCPS will be entitled to convert part or whole of the RCPS into ordinary shares of RM1 each on the basis of one RCPS for one new ordinary shares of RM1 each issued and fully paid-up on or before the redemption; and (iv) The Company will have the right at any time to redeem in whole or in part for RM1 for each RCPS issued. The key terms of RCCPS were as follows: (i) The dividend payable is based on the net proceed received by the Company to be declared by the Board of Directors of the Group and Company as they shall deem fit; (ii) The holder of the RCCPS does not have the right to vote at any general meeting except for as stated in the Schedule 2 of the Subscription Agreement; (iii) The holder of the RCCPS will be entitled to convert part or whole of the RCCPS into ordinary shares of RM1 each on the basis of one RCPS for one new ordinary shares of RM1 each issued and fully paid-up on or before the redemption; and (iv) The Company will have the right at any time to redeem in whole or in part for RM1 for each RCCPS issued.