Hi all,

Is anyone familiar with this MAS-PA (or MAS RCPS)?

I would like to check whether MAS will still pay RM1.00 for each share when it's mature in 2012.

I know they would pay before the rights issue. However, after the rights issue, my friend told me their change the conversion ratio for MAS-PA from 4.05 to 3.09.
As they change the conversion ratio, MAS will not pay RM1.00 for each share anymore.

Hello joyride997...

This is from Bursa website:


Type : Announcement
Subject : Malaysian Airline System Berhad (“MAS” or “Company”)

Notice to holders of redeemable convertible preference shares of RM0.10 each in MAS (“RCPS”)



Contents : We refer to the announcement dated 26 January 2010 in relation to, among others, the notice to holders of RCPS of the adjustment to be made to the conversion price of the RCPS as a result of the Company’s renounceable rights issue of 1,671,078,120 new ordinary shares of RM1.00 each in MAS (“Rights Shares”) at an issue price of RM1.60 per Rights Share on the basis of one (1) Rights Share for every one (1) existing ordinary share of RM1.00 each in MAS (“MAS Share”) held as at 5.00 p.m. on 10 February 2010 (“Rights Issue”).

As at 10 February 2010, the aggregate principal amount of RCPS that remain outstanding (“Outstanding RCPS”) is RM415,127,155.

As stated in the said announcement, the Company has, in consultation with its advisers, determined that the conversion price of the Outstanding RCPS will be adjusted from RM4.05 per MAS Share to RM3.09 per MAS Share as a result of the Rights Issue.

On behalf of the Board of Directors of MAS, Maybank Investment Bank Berhad and CIMB Investment Bank Berhad wish to inform all holders of the Outstanding RCPS that the adjusted conversion price of RM3.09 per MAS Share has taken effect on 11 February 2010.

Based on the adjusted conversion price of RM3.09 per MAS Share, the total Outstanding RCPS of RM415,127,155 will be convertible into 134,345,357 new MAS Shares.

The rights and obligations of the holders of the Outstanding RCPS and the other provisions of the Company’s Articles of Association relating to the RCPS will remain unchanged, save for the said adjustment.

A notice in relation to the above-mentioned will be despatched to the holders of the Outstanding RCPS by the Company on 12 February 2010.

This announcement is dated 11 February 2010.

http://announcements.bursamalaysia.com/EDM...ns%26category=a

If you wish to have confirmation, you can check with your remisier or call up the registrar. All else seems to remain the same, except for the conversion rate, changes from RM4.05 to RM3.09.

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Added on March 15, 2010, 9:07 pmThis give 3 sen dividend

Ex 26/03
Payment 08/04

http://announcements.bursamalaysia.com/EDM...75?OpenDocument

This post has been edited by VyvernS: Mar 15 2010, 09:07 PM