Registration No. 200301030845 (633265-K) - 114 - 27. Redeemable Preference Shares 30.6.2025 30.6.2024 30.6.2025 30.6.2024 Units Units RM RM Issued and fully paid: At 1 July 2024/1 January 2023 250,000 250,000 1,571,496 1,357,440 Redemption during the year (250,000) (1,571,496) Exchange difference - - - 214,056 At 30 June - 250,000 - 1,571,496 Number of shares Amount Group The redeemable preference shares (“RPS’) were issued by a former subsidiary, Destini Marine Safety Solutions Ltd. in August 2016. The RPS entitled the holders to a fixed noncumulative preferential dividend of 1% per annum and were redeemable at GBP1.00 each. During the financial year, the RPS were fully redeemed by TF Corp Pte Ltd, and the subsidiary was subsequently dissolved. The derecognition of the RPS and the related effects had been recognised previously in the consolidated financial statements of TF Corp Pte Ltd. Accordingly, no redeemable preference shares were outstanding as at 30 June 2025. Prior to redemption, the key terms of the RPS were as follows: (i) The preference shares shall confer a right to a fixed non-cumulative preferential dividend at the fixed rate of GBP0.01 per annum. The preferential dividend shall rank for payment in priority to the payment of a dividend on any other shares of the subsidiary. (ii) The preference shares shall not confer the right to any further or other participation in the profit of the subsidiary. (iii) The preference shares will be redeemed at GBP1.00 each in a date to be determined later but not later than thirty-six (36) months from the date of issuance. (iv) The preference shares shall rank in priority in any distribution of assets in the event of liquidation, dissolution or winding-up of the subsidiary. DESTINI BERHAD ANNUAL REPORT 2025 197
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