NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 30. IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES AND PERPETUAL BOND Irredeemable Convertible Preference Shares The value of ICPS has been split into the liability component and equity component. The ICPS are accounted for in the statements of financial position of the Group and of the Company as follows: Number of Equity Liability ICPS component component Total ’000 RM’000 RM’000 RM’000 Group and Company At 1 January 2024 294,551 301,210 45,440 346,650 Conversion to ordinary shares (Note 28) (214,800) (219,656) (38,104) (257,760) Accretion of interest on ICPS (Note 8) – – 10,525 10,525 Dividend payable – – (6,574) (6,574) At 31 December 2024 79,751 81,554 11,287 92,841 At 1 January 2023 455,951 466,258 75,260 541,518 Conversion to ordinary shares (Note 28) (161,400) (165,048) (28,632) (193,680) Accretion of interest on ICPS (Note 8) – – 6,447 6,447 Dividend payable – – (7,635) (7,635) At 31 December 2023 294,551 301,210 45,440 346,650 Group and Company 2024 2023 RM’000 RM’000 Represented by: Non-current liabilities 9,319 41,686 Current liabilities 1,968 3,754 Equity 81,554 301,210 92,841 346,650 The salient terms of the ICPS were as follows: (a) Issue The ICPS shall be irredeemable convertible preference shares and each ICPS confers on the ICPS Holder for the time being the rights, privileges and restriction set out in this Constitution. ANNUAL REPORT 2024 312
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