Bursa Malaysia • Annual Report 2013
179
Financial Reports
41. Subsequent event
On 6 December 2013, the Board of Directors of Bursa Malaysia Derivatives approved the proposed revamp of Bursa Malaysia Derivatives’ participantship
structure which creates a single trading right that would enable Bursa Malaysia Derivatives TPs to trade all categories of products on the derivatives
exchange (“the Proposed Revamp”).
The Proposed Revamp involves the following:
(1) A capital reduction exercise via the cancellation of all the issued and paid-up non-cumulative “A”, “B” and “C” preference shares of RM1.00 each and
repayment of the par value thereof. The number of existing non-cumulative preference shares in issue as at 31 December 2013 are as follows:
(i) 40 non-cumulative “A” preference shares;
(ii) 17 non-cumulative “B” preference shares; and
(iii) 28 non-cumulative “C” preference shares.
The capital reduction for the cancellation of the existing preference shares and repayment of the par value thereof was approved by the ordinary
shareholders and the holders of the non-cumulative “A”, “B” and “C” preference shares of Bursa Malaysia Derivatives on 24 January 2014. This would
need to be further confirmed by the High Court of Malaya.
(2) Subject to the completion of (1), new redeemable “A” or “B” preference shares of RM1.00 each will be issued to the entitled non-cumulative
“A”, “B” and “C” preference shareholders and redeemed based on the terms and conditions of the new redeemable preference shares. The transactions
will fully utilise the balance in Bursa Malaysia Derivatives’ share premium account.
Notes to the Financial Statements
31 December 2013
