Table Of ContentAll defined terms and abbreviations contained in this Abridged Prospectus are defined in the “Definitions” section of this Abridged
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THPIrSo sApBeRctIuDsG, EuDnl ePsRsO sStaPtEeCd ToUthSe IrSw iIsMeP. ORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF YOU ARE IN ANY DOUBT AS TO THE
Prospectus, unless stated otherwise.
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If PyoRuO hFaEvSeS sIoOldN oArL t rAaDnsVfeISrrEeRd aIMll MyoEuDr IUAMTWEL-YO.G Shares, you should hand this Abridged Prospectus together with the Notice of Provisional Allotment
PROFESSIONAL ADVISER IMMEDIATELY.
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address in Malaysia and whose names appear in the Record of Depositors as at 5.00 p.m. on 25 September 2017.
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Thairse Arebsriiddgeendts .P rospectus has been registered by the SC. The registration of this Abridged Prospectus should not be taken to indicate that the SC
are residents.
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Ahpapsro avlaslo f obre tehne lRodigghetsd Iwssituhe t hWe itRhe Wgiastrrraarn otsf hCaosm bpeaennie osb wtahinoe tda kfreosm n toh ere sshpaorneshiboillditeyr sfo or ft hthee c Conotmenptasn oy fa tth teh eD oEcGuMm ehnetlsd. o n 25 August 2017. Approval
has also been lodged with the Registrar of Companies who takes no responsibility for the contents of the Documents.
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Ththee BRoigahrdts h Iasss usee Weni tha nWd aarprapnrotsv.e d the Documents. They collectively and individually accept full responsibility for the accuracy of the information
the Rights Issue With Warrants.
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statements or other facts which, if omitted, would make any statement in the Documents false or misleading.
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UMW OIL & GAS CORPORATION BERHAD
UUMMWW OOIILL &&(C GGomAApSSan CCy OONoRR. PP87OO87RR8AA6-TTHII)OO NN BBEERRHHAADD
UMW OIL & GAS CORPORATION BERHAD
(Incorporated in Malaysia undeUr MtheW C oOmIpLa n&ie ((sGCC AooAmmcStpp, aa1Cnn9yy6O 5NNR aooPn.. d88O 77d88Re77eA88m66Te--HHIdO ))r eNg isBteEreRdH uAndDer the Companies Act, 2016)
((IInnccoorrppoorraatteedd iinn MMaallaayyssiiaa uunnddeerr tthhee CCoommppaann((iieeCCssoo mmAAccppttaa,, nn11yy99 66NN55oo ..aa 88nn77dd 88dd77ee88ee66mm--HHee))dd rreeggiisstteerreedd uunnddeerr tthhee CCoommppaanniieess AAcctt,, 22001166))
(Incorporated in Malaysia under the Companies Act, 1965 and deemed registered under the Companies Act, 2016)
R ENOUNCEAB(LInEc oRrpIGorHatTeSd inIS MSaUlaEy sOiaF u nUdPe rT thOe 6C,o0m5p3a,6n0ie0s, 0A0c0t, 1N9E65W a nOdR dDeeINmAedR rYe gSisHteAreRdE uSn dIeNr tUheM CWo mOpIaLn i&es G AActS, 2 C01O6R) PORATION
BRR EEERNNHOOAUUDNN (CC“UEEMAABBWLL-EEO GRR”IIGG) HH(“TTRSSIG IISSHSSTUUSEE S OOHFFA RUUEPPS TT”OO) A66T,,00 55A33N,,66 00IS00S,,00U00E00 NNPEERWWIC EOO RRODDFII NNRAAMRR0YY.3 SS0HH PAAERRREE SSR IIIGNNH UUTMMSWW S HOOAIILLR &&E GGOAANSS T CCHOOERR BPPAOOSRRIAAS TTOIIOOFNN
RENOUNCEABLE RIGHTS ISSUE OF UP TO 6,053,600,000 NEW ORDINARY SHARES IN UMW OIL & GAS CORPORATION
FBBROEEEURRNRHHOTAAEUEDDNN C(( ““E(1UUA4MMB) WWLREI--GOO RHGGIGT””S))H ((TS““SHRR AIIIGGSRSHHEUTTSSSE F OSSOHHFR AAU ERRPVEE ETSSOR””))Y 6 AA,F0TTI5V 3AAE,6 NN(05 0II)SS ,O0SS0RUU0DEE NI NEPPAWRRRII CCYOEE RS DHOOIAFFN RARRERMMSY00 I..SN33H00 U APPMREEWERRS- O RRIGNIIGG (UHH“MUTTSSWM W SSOHH-IOLAAG RR& EE SG HOOAASNNR CETTOSHH”REE) P HBBOEAARLSSADIISST A IOOOSNFF
BERHAD (“UMW-OG”) (“RIGHTS SHARES”) AT AN ISSUE PRICE OF RM0.30 PER RIGHTS SHARE ON THE BASIS OF
AFFBTOO E5UUR.RRH00TTA EEDPEE .(NNM“ U.(( 11MO44W))N RR- OII2GGG5HH ”TT)S SSE(“ PSSRTHHIGEAAMHRRTBEESESS R SFF HOO2ARR0R1 EE7EVV SEET”RRO) YYGA ETFF TIIVVAHEENE ((RI55S ))S WOOURRITEDDH PII NNRUAAIPCRR EYYT SSOOHH FAA1 R,RR5M1EE30SS,. 43IINN000 UUP,0MME0R0WW --RFOOIRGGGEH E((T““ UUSDMM ESWWTHA--AOOCRGGHE A SSOBHHNLAA ERRT EEHWSSE””A ))BR HHAREESALLINSDDT OAASSSF
FOURTEEN (14) RIGHTS SHARES FOR EVERY FIVE (5) ORDINARY SHARES IN UMW-OG (“UMW-OG SHARES”) HELD AS
(“FAAWOTTA UR55R..R00T00AE NEPPNT..SMM (”1..) 4 OOO) RNNNI GT22HH55TE S SSB EESAPPHSTTAIEESRMM EOBBSFEE FORRO NR22E00 E11(1V77)E WTTROOYA GGRFEERIVTTAEHHN EE(T5RR )F OOWWRRIIDTT EIHHNV AEUURRPPYY STTFOOHO AU11RR,,E55 (11S433 )I,, N44R00 IUG00,,MH0000WT00S- O SFFGRRH EEA(“EERU EMDDSWEE STT-OUAABGCCS HHSCAAHRBBAILLBREEEE DSWW ”()AA“ HRRREIRRGLAAHDNNT ATTSSSS
AT 5.00 P.M. ON 25 SEPTEMBER 2017 TOGETHER WITH UP TO 1,513,400,000 FREE DETACHABLE WARRANTS
ISA((““STWWU EAA5 RR.W0RR0I TAAHPNN. TTMWSS.A ””))RO OORNNNA N2TT5THH SEES” E)BB PAATSSEIIMSS BOOEFFR OO NN20EE1 7((11 ))T WWOAAGRRERRTHAAENNRTT FFWOOIRRTH EE VVUEEPRR YYT OFFOO 1UU,5RR1 ((344,4)) 0RR0II,GG0HH00TT SSF SSRHHEAAE RRDEEESST SSAUUCBBHSSACCBRRLIIEBB EEWDD A((““RRRRIIGGANHHTTTSSS
(“WARRANTS”) ON THE BASIS OF ONE (1) WARRANT FOR EVERY FOUR (4) RIGHTS SHARES SUBSCRIBED (“RIGHTS
(IISS“WSSUUAEER RWWAIITTNHHT SWW”AA) RRORRNAA TNNHTTESS ””B))A SIS OF ONE (1) WARRAPNriTn cFipOaRl A EdVviEseRrY FOUR (4) RIGHTS SHARES SUBSCRIBED (“RIGHTS
IISSSSUUEE WWIITTHH WWAARRRRAANNTTSS””)) PPrriinncciippaall AAddvviisseerr
PPrriinncciippaall AAddvviisseerr
I M PORTANT RELEVANT DATES AND TIMES
IIMMPPOORRTTAANNTT RREELLEEVVAANNTT DDAATTEESS AANNDD TTIIMMEESS
EInMtitPleOmReTnAt NDTat eR ELEVANT DATES AND TIMES : Monday, 25 September 2017 at 5.00 p.m.
IMPORTANT RELEVANT DATES AND TIMES
EEnnttiittlleemmeenntt DDaattee :: MMoonnddaayy,, 2255 SSeepptteemmbbeerr 22001177 aatt 55..0000 pp..mm..
LaEsnt tditlaetme eanntd D tiamtee for the sale of the Provisional Rights Shares With Warrants : M: Monodnadya,y 2, 2O5c Stoebpetre m20b1e7r a2t0 51.70 0a tp 5.m.0.0 p.m.
Entitlement Date : Monday, 25 September 2017 at 5.00 p.m.
LLaasstt ddaattee aanndd ttiimmee ffoorr tthhee ssaallee ooff tthhee PPrroovviissiioonnaall RRiigghhttss SShhaarreess WWiitthh WWaarrrraannttss :: MMoonnddaayy,, 22 OOccttoobbeerr 22001177 aatt 55..0000 pp..mm..
LaLsats dt adtaet ea nadn dti mtime efo fro trh teh etr asnaslef eorf othf eth Pe rPorvoisviiosnioanl aRl iRghigtsh tSs hSahraerse Ws Withi tWh Warararrnatsn ts : T: hMuorsnddaayy,, 52 OOccttoobbeerr 22001177 aatt 45..0000 pp..mm..
Last date and time for the sale of the Provisional Rights Shares With Warrants : Monday, 2 October 2017 at 5.00 p.m.
LLaasstt ddaattee aanndd ttiimmee ffoorr tthhee ttrraannssffeerr ooff tthhee PPrroovviissiioonnaall RRiigghhttss SShhaarreess WWiitthh WWaarrrraannttss :: TThhuurrssddaayy,, 55 OOccttoobbeerr 22001177 aatt 44..0000 pp..mm..
LaLsats dt adtaet ea nadn dti mtime efo fro trh teh ea ctrcaenpstfaenrc oef athned Ppraoyvmiseionnt afol Rr tihgeh tPs rSohviasrieosn aWl Rithig Whtsa rSrahnatrse s With Warrants : T: uTehsudrsadya, y1,0 5 O Occtotobbeer r2 2001177 a at t5 4.0.000 p p.m.m. .
Last date and time for the transfer of the Provisional Rights Shares With Warrants : Thursday, 5 October 2017 at 4.00 p.m.
LLaasstt ddaattee aanndd ttiimmee ffoorr tthhee aacccceeppttaannccee aanndd ppaayymmeenntt ffoorr tthhee PPrroovviissiioonnaall RRiigghhttss SShhaarreess WWiitthh WWaarrrraannttss :: TTuueessddaayy,, 1100 OOccttoobbeerr 22001177 aatt 55..0000 pp..mm..
LaLsats dt adtaet ea nadn dti mtime efo fro trh teh ea papclciceapttiaonnc aen adn pda pyamyemnet nfot rf othr eth Eex Pcerosvsi sRioignhatls R Sighhatrse sS hares With Warrant:s T : uTeusedsadya,y 1, 01 0O Octcotboebre 2r 021071 7a ta 5t .50.00 0p .pm.m. .
Last date and time for the acceptance and payment for the Provisional Rights Shares With Warrants : Tuesday, 10 October 2017 at 5.00 p.m.
LLaasstt ddaattee aanndd ttiimmee ffoorr tthhee aapppplliiccaattiioonn aanndd ppaayymmeenntt ffoorr tthhee EExxcceessss RRiigghhttss SShhaarreess :: TTuueessddaayy,, 1100 OOccttoobbeerr 22001177 aatt 55..0000 pp..mm..
Last date and time for the application and payment for the Excess Rights Shares : Tuesday, 10 October 2017 at 5.00 p.m.
Last date and time for the application and payment for the Excess Right s Shares : Tuesday, 10 October 2017 at 5.00 p.m.
This Abridged Prospectus is dated 25 September 2017
TThhiiss AAbbrriiddggeedd PPrroossppeeccttuuss iiss ddaatteedd 2255 SSeepptteemmbbeerr 22001177
This Abridged Prospectus is dated 25 September 2017
This Abridged Prospectus is dated 25 September 2017
Company No. 878786-H
ALL DEFINED TERMS AND ABBREVIATIONS CONTAINED IN THIS ABRIDGED PROSPECTUS
ARE DEFINED IN THE “DEFINITIONS” SECTION OF THIS ABRIDGED PROSPECTUS, UNLESS
STATED OTHERWISE.
THE SC IS NOT LIABLE FOR ANY NON-DISCLOSURE ON THE PART OF THE COMPANY AND
TAKES NO RESPONSIBILITY FOR THE CONTENTS OF THIS ABRIDGED PROSPECTUS, MAKES
NO REPRESENTATION AS TO ITS ACCURACY OR COMPLETENESS, AND EXPRESSLY
DISCLAIMS ANY LIABILITY FOR ANY LOSS YOU MAY SUFFER ARISING FROM OR IN
RELIANCE UPON THE WHOLE OR ANY PART OF THE CONTENTS OF THIS ABRIDGED
PROSPECTUS.
YOU SHOULD RELY ON YOUR OWN EVALUATION TO ASSESS THE MERITS AND RISKS OF
THE RIGHTS ISSUE AND ANY INVESTMENT IN THE COMPANY. IN CONSIDERING THE
INVESTMENT, IF YOU ARE IN ANY DOUBT AS TO THE ACTION TO BE TAKEN, YOU SHOULD
CONSULT YOUR STOCKBROKER, BANK MANAGER, SOLICITOR, ACCOUNTANT OR OTHER
PROFESSIONAL ADVISER IMMEDIATELY.
YOU ARE ADVISED TO NOTE THAT RECOURSE FOR FALSE OR MISLEADING STATEMENTS
OR ACTS MADE IN CONNECTION WITH THIS ABRIDGED PROSPECTUS ARE DIRECTLY
AVAILABLE THROUGH SECTIONS 248, 249 AND 357 OF THE CMSA.
SECURITIES LISTED ON BURSA SECURITIES ARE OFFERED TO THE PUBLIC PREMISED ON
FULL AND ACCURATE DISCLOSURE OF ALL MATERIAL INFORMATION CONCERNING THE
RIGHTS ISSUE WITH WARRANTS FOR WHICH ANY OF THE PERSONS SET OUT IN SECTION
236 OF THE CMSA (SUCH AS THE DIRECTORS OF THE COMPANY AND THE ADVISERS) ARE
RESPONSIBLE.
THE DISTRIBUTION OF THE DOCUMENTS IS SUBJECT TO MALAYSIAN LAWS. UMW-OG AND
THE PRINCIPAL ADVISER ARE NOT RESPONSIBLE FOR THE DISTRIBUTION OF THE
DOCUMENTS OUTSIDE OF MALAYSIA. UMW-OG AND THE PRINCIPAL ADVISER HAVE NOT
TAKEN ANY ACTION TO PERMIT AN OFFERING OF THE RIGHTS SHARES AND WARRANTS
BASED ON THE DOCUMENTS OR THE DISTRIBUTION OF THE DOCUMENTS OUTSIDE OF
MALAYSIA. THE DOCUMENTS MAY NOT BE USED FOR AN OFFER TO SELL OR AN INVITATION
TO BUY THE RIGHTS SHARES AND WARRANTS IN ANY COUNTRY OR JURISDICTION OTHER
THAN MALAYSIA. UMW-OG AND THE PRINCIPAL ADVISER REQUIRE YOU TO INFORM
YOURSELF OF AND TO OBSERVE SUCH RESTRICTIONS.
THE DOCUMENTS HAVE BEEN PREPARED AND PUBLISHED SOLELY FOR THE RIGHTS ISSUE
UNDER THE LAWS OF MALAYSIA. THE COMPANY AND THE PRINCIPAL ADVISER HAVE NOT
AUTHORISED ANYONE TO PROVIDE YOU WITH INFORMATION WHICH IS NOT CONTAINED IN
THE DOCUMENTS.
Company No. 878786-H
DEFINITIONS
The following definitions apply throughout this Abridged Prospectus unless the context requires
otherwise:
Abridged Prospectus : This abridged prospectus dated 25 September 2017 issued by the
Company for the Rights Issue With Warrants
Act : Companies Act, 2016
Amendment : Amendment to the Constitution, which was approved by the shareholders
of UMW-OG on 25 August 2017
Announcement LPD : 28 April 2017, being the latest practicable date prior to UMW-OG’s
announcement dated 4 May 2017 in relation to the Corporate Exercises
ART-ASB : AmanahRaya Trustees Berhad - Amanah Saham Bumiputera
ASB : Amanah Saham Bumiputera
ASEAN : Association of Southeast Asian Nations
ASG : Amanah Saham Gemilang, the umbrella fund for ASG-Pendidikan, ASG-
Kesihatan and ASG-Persaraan
BNM : Bank Negara Malaysia
Board : Board of Directors of UMW-OG
Bursa Depository : Bursa Malaysia Depository Sdn Bhd
Bursa Securities : Bursa Malaysia Securities Berhad
CDS : Central Depository System, the system established and operated by
Bursa Depository for the central handling of securities deposited with
Bursa Depository
CDS Account : A securities account established by Bursa Depository for a depositor for
the recording of deposits and dealings in such securities by the depositor
Closing Date : 10 October 2017 at 5.00 p.m., being the last date and time for the
acceptance, application and payment for the Provisional Rights Shares
With Warrants and Excess Rights Shares
CMSA : Capital Markets and Services Act, 2007
Collective : The collective shareholding of PNB, ASB and the Funds in UMW-OG
Shareholding
Collective : The threshold of the Collective Shareholding of 65% of the enlarged
Shareholding issued share capital of UMW-OG upon the subscription of their respective
Threshold entitlements and applications for the Excess Rights Shares, if any
Constitution : The memorandum and articles of association of UMW-OG’s constitution
Corporate Exercises : Collectively, the Rights Issue With Warrants, Subscription, Exemption and
Amendment
Deed Poll : The deed poll constituting the Warrants dated 8 September 2017
i
i
Company No. 878786-H
DEFINITIONS (Cont’d)
Director : Members of the Board and the term “director” shall have the same
meaning assigned to it in Section 2(1) of the CMSA
Distribution : Distribution of 1,204,777,400 UMW-OG Shares, being the entire
shareholding of UMWH in UMW-OG, on the basis of 1.0312 UMW-OG
Shares for every one (1) share held in UMWH to the entitled shareholders
of UMWH by way of a reduction to the issued share capital of UMWH by
RM704,759,950, which was completed on 11 July 2017
Documents : Collectively, this Abridged Prospectus and the accompanying NPA and
RSF
EGM : Extraordinary general meeting
Entitled Shareholders : Shareholders of UMW-OG whose names appear in the Record of
Depositors of the Company on the Entitlement Date
Entitlement Date : 25 September 2017 at 5.00 p.m., being the date and time on which the
names of the shareholders of the Company must appear in the Record of
Depositors of the Company in order to be entitled to participate in the
Rights Issue With Warrants
EPF : Employees Provident Fund Board
EPS : Earnings per UMW-OG share
Excess Rights Shares : Rights Shares which are not taken up or validly taken up by the Entitled
Shareholders and/or their renouncee(s) and/or transferee(s), prior to
excess application
Exemption : Exemption granted by the SC to the PAC Group from the obligation to
undertake the Mandatory Offer pursuant to Paragraphs 4.08(1)(b) and
4.08(1)(c) of Rule 4, Part B of the Rules
Exercise Period : Any time after six (6) months from the date of issue of the Warrants and
ending at 5.00 p.m. on the Expiry Date
Exercise Price : The exercise price of the Warrants of RM0.395 per Warrant
Exercised Shares : New UMW-OG Shares to be issued upon exercise of the Warrants
Expiry Date : A date being seven (7) years from and including the date of issue of the
Warrants, provided that if such day falls on a day which is not a Market
Day, then on the preceding Market Day
Foreign Addressed : Entitled Shareholders who have not provided an address in Malaysia for
Shareholders the service of the Documents
FPE : Financial period ended/ending, as the case may be
Funds : Funds under PNB’s management, namely Amanah Saham Wawasan
2020, Amanah Saham Malaysia, Amanah Saham 1Malaysia, Amanah
Saham Didik, Amanah Saham Bumiputera 2, Amanah Saham Nasional,
Amanah Saham Nasional 2, Amanah Saham Nasional 3 Imbang, ASG
and Yayasan Tun Ismail Mohamed Ali (Berdaftar), other than ASB
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Company No. 878786-H
DEFINITIONS (Cont’d)
Funds’ RCPS-i : The number of RCPS-i to be offered to ASB and/or the Funds for
subscription equivalent to the number of Rights Shares not being able to
be subscribed by ASB and/or the Funds (based on ASB and/or the Funds’
respective entitlements and applications of the Excess Rights Shares, if
any) as a consequence of the Collective Shareholding Threshold
Funds’ Subscription : Issuance of the Funds’ RCPS-i to be subscribed by ASB and/or the Funds
at the Subscription Price together with Warrants on the basis of one (1)
Warrant for every four (4) RCPS-i subscribed
FYE : Financial year ended/ending, as the case may be
GDP : Gross domestic product
GDV : Gross development value
GNI : Gross national income
Government : Government ofMalaysia
HWU : HydraulicWorkoverUnit
Intended Gross : The intended gross proceeds of RM1,816,080,000 to be raised by the
Proceeds Company from the Rights Issue With Warrants and if applicable, the
Subscription
KWAP : Kumpulan Wang Persaraan (Diperbadankan)
Listing Requirements : Main Market Listing Requirements of Bursa Securities
LPD : 5 September 2017, being the latest practicable date prior to the date of
this Abridged Prospectus
Market Day : A day on which Bursa Securities is open for trading in securities
Maybank IB or : Maybank Investment Bank Berhad
Principal Adviser
Mandatory Offer : The obligation of PNB, ASB and the PACs to undertake a mandatory
take-over offer to acquire:
(i) all the remaining UMW-OG Shares and Warrants not already
owned by them after the Rights Issue With Warrants; and/or
(ii) all the remaining UMW-OG Shares following the exercise of the
Warrants during the tenure of the Warrants and/or the conversion
of the RCPS-i during the tenure of the RCPS-i
NA : Netassets
NPA : Notice of provisional allotment of the Rights Shares and Warrants
Non-Interested : Being the Entitled Shareholders other than PNB, ASB, and the Funds
Entitled Shareholders
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Company No. 878786-H
DEFINITIONS (Cont’d)
O&G : Oil and gas
OPR : Overnight policy rate
PAC Group : PNB, ASB and the PACs
PACs : Persons deemed to be acting in concert with PNB and ASB in accordance
with Sections 216(2) and/or 216(3) of the CMSA, namely UMWH and the
Funds
PNB : Permodalan Nasional Berhad
PNB Subscription : Issuance of up to 4,847,539,594 new RCPS-i to be subscribed by PNB at
the Subscription Price together with up to 1,211,884,898 Warrants on the
basis of one (1) Warrant for every four (4) RCPS-i subscribed
Provisional Rights : Rights Shares provisionally allotted to the Entitled Shareholders together
Shares With with the Warrants attached
Warrants
RCPS-i : Islamic redeemable convertible preference shares in UMW-OG
RCPS-i Undertaking : The undertaking from PNB to subscribe for such amounts of new RCPS-i
to be issued pursuant to the PNB Subscription, after the Rights Issue With
Warrants and if applicable, the Funds’ Subscription, so as to ensure that
UMW-OG will be able to raise the Intended Gross Proceeds
Record of Depositors : A record of securities holders established by Bursa Depository pursuant
to Chapter 24 of the Rules of Bursa Depository
Rights Issue Price : The issue price of RM0.30 per Rights Share
Rights Issue : The irrevocable undertakings from PNB to subscribe in full its entitlement
Undertakings to the Rights Shares based on its shareholding as at the Entitlement Date
(including any increase in its entitlement arising from the increase in PNB’s
shareholding in UMW-OG as a result of the Distribution from the date of
the Undertakings and Subscription Letter), and to apply for all the
remaining Excess Rights Shares via excess application, pursuant to the
Undertakings and Subscription Letter
Rights Issue With : Renounceable rights issue of up to 6,053,600,000 Rights Shares at the
Warrants Rights Issue Price on the basis of fourteen (14) Rights Shares for every
five (5) UMW-OG Shares held on the Entitlement Date together with up to
1,513,400,000 Warrants on the basis of one (1) Warrant for every four (4)
Rights Shares subscribed
Rights Shares : New UMW-OG Shares to be issued pursuant to the Rights Issue With
Warrants
RSF : Rights subscription form for the Rights Issue With Warrants
Rules : Rules on Take-Overs, Mergers and Compulsory Acquisitions
Rules of Bursa : The rules of Bursa Depository as issued pursuant to the SICDA
Depository
SC : Securities Commission Malaysia
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Company No. 878786-H
DEFINITIONS (Cont’d)
Scenario I : Assuming all the Entitled Shareholders subscribe in full their respective
entitlements under the Rights Issue With Warrants
Scenario II : Assuming none of the Entitled Shareholders subscribes for their
respective entitlements under the Rights Issue With Warrants other than
PNB such that the Collective Shareholding after the Rights Issue With
Warrants will be 65%, and the remaining amount of proceeds to enable
the Intended Gross Proceeds to be raised will be via the PNB Subscription
Share Registrar : Securities Services (Holdings) Sdn Bhd
Shareholder Loan : The intercompany loan provided by UMWH to UMW-OG amounting to
RM308 million on 2 June 2016
SICDA : Securities Industry (Central Depositories) Act, 1991
Subscription : Issuance of up to 4,847,539,594 new RCPS-i to be subscribed at the
Subscription Price by PNB, ASB and/or the Funds together with up to
1,211,884,898 Warrants on the basis of one (1) Warrant for every four (4)
RCPS-i subscribed pursuant to the PNB Subscription and, if applicable
the Funds’ Subscription
Subscription Price : The subscription price of RM0.30 per RCPS-i
TERP : Theoretical ex-rights price
UMW-OG or Company : UMW Oil & Gas Corporation Berhad
UMW-OG Group or : Collectively, UMW-OG and its subsidiaries
Group
UMW-OG Shares : Ordinary shares in UMW-OG
UMWH : UMW Holdings Berhad
Undertakings and : Letter dated 9 June 2017 issued by PNB and accepted by UMW-OG in
Subscription Letter relation to, amongst others, the Rights Issue Undertakings and the PNB
Subscription
United States or U.S. : United States of America
VWAMP : Volume-weighted average market price
Warrants : Free detachable warrants issued pursuant to the Rights Issue With
Warrants and the Subscription (if applicable)
YPB : Yayasan Pelaburan Bumiputera
CURRENCIES
RM and sen : Ringgit Malaysia and sen respectively
USD : United States Dollar
All references to “you” or “your” in this Abridged Prospectus are to the Entitled Shareholders and/or,
where the context requires otherwise, the renouncee(s) and/or transferee(s).
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Company No. 878786-H
DEFINITIONS (Cont’d)
Words denoting the singular shall, where applicable, include the plural and vice versa and words
denoting the masculine gender shall, where applicable, include the feminine and/or neuter genders and
vice versa. Reference to persons shall include corporations and individuals, unless otherwise specified.
Any reference in this Abridged Prospectus to any legislation, statute, guidelines, code, rules and
regulations is a reference to that legislation, statute, guidelines, code, rules and regulations as for the
time being amended or re-enacted. Any reference to a time of day or date in this Abridged Prospectus
is a reference to Malaysian time and date respectively.
Any discrepancies in the tables included in this Abridged Prospectus between the amounts stated,
actual figures and the totals thereof are due to rounding.
Unless otherwise stated, the exchange rate of USD1.00:RM4.2675, being the middle rate quoted by
BNM as at 5.00 p.m. on the LPD is used throughout this Abridged Prospectus.
Any exchange rate translations in this Abridged Prospectus are provided solely for the convenience of
readers and should not be constituted as representative that the translated amounts stated in this
Abridged Prospectus could have been or would have been converted into such other amounts or vice
versa.
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Company No. 878786-H
TABLE OF CONTENTS
Page
CORPORATE DIRECTORY ix
LETTER TO THE SHAREHOLDERS OF UMW-OG CONTAINING:
1. INTRODUCTION 1
2. DETAILS OF THE RIGHTS ISSUE WITH WARRANTS 3
2.1 Rights Issue With Warrants 3
2.2 Salient terms of the Warrants 4
2.3 Basis and justification for the Rights Issue Price and Exercise Price 5
2.4 Ranking of the Rights Shares and Exercised Shares 6
2.5 Listing and quotation of the Rights Shares, Warrants and Exercised Shares 6
2.6 Allocation of Excess Rights Shares 6
2.7 Shareholder’s undertaking 7
2.8 Put option arrangement(s) 10
2.9 Use of proceeds 10
3. RATIONALE FOR THE RIGHTS ISSUE WITH WARRANTS 13
4. RISK FACTORS 14
4.1 Risks relating to the O&G industry 14
4.2 Risks relating to the UMW-OG Group 20
4.3 Risks relating to the Rights Issue With Warrants 29
4.4 Other risk 30
5. INDUSTRY OVERVIEW AND FUTURE PROSPECTS 30
5.1 Overview and outlook of the global economy 30
5.2 Overview and outlook of the global offshore O&G market 31
5.3 Prospects of the UMW-OG Group 39
6. EFFECTS OF THE CORPORATE EXERCISES 41
6.1 Share capital 41
6.2 NA per UMW-OG Share and gearing 43
6.3 Earnings and EPS 46
7. WORKING CAPITAL, BORROWINGS, CONTINGENT LIABILITIES AND 46
MATERIAL COMMITMENTS
7.1 Working capital 46
7.2 Borrowings 46
7.3 Contingent liabilities 47
7.4 Material commitments 47
8. INSTRUCTIONS FOR ACCEPTANCE, PAYMENT, SALE/TRANSFER AND 47
EXCESS APPLICATION
8.1 General 47
8.2 Procedures for acceptance and payment 48
8.3 Procedures for sale/transfer of Provisional Rights Shares With Warrants 50
8.4 Procedures for application for Excess Rights Shares 50
8.5 Procedures to be followed by renouncee(s) and/or transferee(s) 52
8.6 Form of issuance 52
8.7 Procedures for acceptance and application by the Foreign Addressed 53
Shareholders and Entitled Shareholders and/or their renouncee(s) and/or
transferee(s), if applicable, who are subject to the laws of foreign countries or
jurisdictions
9. TERMS AND CONDITIONS 55
10. FURTHER INFORMATION 55
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Company No. 878786-H
TABLE OF CONTENTS (Cont’d)
Page
APPENDICES
I CERTIFIED TRUE COPY OF THE EXTRACT OF THE RESOLUTION RELATING 56
TO THE CORPORATE EXERCISES PASSED AT THE EGM HELD ON 25
AUGUST 2017
II INFORMATION ON UMW-OG 61
III PRO FORMA CONSOLIDATED STATEMENTS OF FINANCIAL POSITION OF 77
UMW-OG AS AT 31 DECEMBER 2016 TOGETHER WITH THE NOTES AND
REPORTING ACCOUNTANTS’ LETTER THEREON
IV AUDITED CONSOLIDATED FINANCIAL STATEMENTS OF UMW-OG FOR THE 100
FYE 31 DECEMBER 2016 TOGETHER WITH THE INDEPENDENT AUDITORS’
REPORT THEREON
V UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS OF UMW-OG FOR 219
THE SIX (6)-MONTH FPE 30 JUNE 2017 TOGETHER WITH THE EXPLANATORY
NOTES THEREON
VI DIRECTORS’ REPORT 233
VII ADDITIONAL INFORMATION 234
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Description:Last date and time for the acceptance and payment for the Provisional Rights Shares With Warrants : Tuesday, 10 October 2017 at 5.00 p.m. (Incorporated in Malaysia under the Companies Act, 1965 and deemed registered under the Companies Act, 2016) Capital Markets and Services Act, 2007.
