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172 | S P SETIA BERHAD GROUP | Annual Report 2014

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 October 2014

V. FINANCIAL STATEMENTS

24. REDEEMABLE CUMULATIVE PREFERENCE SHARES (unsecured)

The redeemable cumulative preference shares (“RCPS”) issued by subsidiaries of the Company (“the Subsidiaries”) are redeemable at

any time at the discretion of the Subsidiaries after 3rd to 5th anniversary but before the 6th to 8th anniversary of the issue date, provided

always that the redemption sum to be determined shall not be less than the nominal value of RM0.01 plus share premium of RM0.99

and any amount of dividend payable on the redemption date (including the aggregate amount of any arrears or accruals of dividend,

whether or not declared, at the time of redemption).

The preference shares confer on their holders the following rights and privileges:

(i) The right to be paid, a cumulative preferential dividend of 4% to 7% per annum on the issue price, or at 500% per annum gross

based on its nominal value;

(ii) The right in a winding up or return of capital (other than on the redemption of the preference shares) to receive, in priority to the

holders of any other class of shares in the capital of the Subsidiaries, repayment in full of the nominal value plus share premium of

RM0.99 and the payment of any cumulative preferential dividend calculated up to the date of commencement of the winding up or

return of capital, but no further right to share in surplus assets; and

(iii) The right to receive notice of and attend all general meetings of the Subsidiaries, and shall have the right on a poll at any general meeting

of the Subsidiaries to one vote for each preference share held:

(a) upon any resolution which varies or is deemed to vary the rights attached to the preference shares,

(b) upon any resolution for the reduction of capital of the Subsidiaries, and

(c) upon any resolution for the winding up of the Subsidiaries,

but shall otherwise have no right to vote at general meetings of the Subsidiaries.

25. LONGTERM BORROWINGS

Group

Company

2014

2013

2014

2013

RM’000

RM’000

RM’000

RM’000

Restated

Secured :

Term loans

2,353,901

2,318,224

-

-

Bridging loans

312,220

196,263

-

-

Revolving credits

151,595

57,929

-

-

Medium term note and Commercial paper

378,000

320,517

-

-

Unsecured :

Term loans

700,000

800,000

700,000

800,000

3,895,716

3,692,933

700,000

800,000

Repayments due within the next 12 months included under

short term borrowings

(see note 29)

(507,781)

(356,669)

(200,000)

(100,000)

Repayments due later than 12 months included under

non-current liabilities

3,387,935

3,336,264

500,000

700,000

The borrowings are repayable as follows:

Not later than one year

507,781

356,669

200,000

100,000

Later than one year but not later than five years

3,195,409

3,004,507

500,000

700,000

Later than five years

192,526

331,757

-

-

3,895,716

3,692,933

700,000

800,000