Transactions (Chapter 10 Of Listing Requirements):Non Related Party Transactions

Dec 09, 2011 Back
Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description MALAYAN BANKING BERHAD (“MAYBANK”)

(I) ACQUISITION BY KIM ENG HOLDINGS LIMITED (“KIM ENG”), A SUBSIDIARY OF MAYBAN IB HOLDINGS SDN. BHD. (FORMERLY KNOWN AS ASEAM CREDIT SDN. BHD.) (“MAYBAN IB HOLDINGS”), WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF MAYBANK, OF AN AGGREGATE OF 344,427,134 COMMON SHARES IN ATR KIMENG FINANCIAL CORPORATION (“ATR KE”), REPRESENTING APPROXIMATELY 32.24% OF THE TOTAL NUMBER OF ISSUED COMMON SHARES OF ATR KE (“ACQUISITION”); AND

(II) MANDATORY TENDER OFFER FOR ALL THE REMAINING ATR KE SHARES NOT ALREADY OWNED, CONTROLLED OR AGREED TO BE ACQUIRED BY KIM ENG

(For consistency, the abbreviations used hereafter throughout this Announcement shall have the same meanings as defined in the announcements dated 29 June 2011, 4 August 2011 and 17 August 2011, unless otherwise stated.)

We refer to the announcements dated 29 June 2011, 4 August 2011 and 17 August 2011 in relation to the above.

On behalf of the Board of Directors of Maybank, Maybank Investment Bank Berhad wishes to announce that following the completion of the Acquisition, Kim Eng had on 24 October 2011 launched a tender offer to acquire all the remaining ATR KE shares that it did not own, at an offer price of PhP4.38 (equivalent to approximately RM0.31755, at the exchange rate of PhP1.00 : RM0.0725, as at 24 October 2011, Source: Bloomberg) for each share in ATR KE (“Tender Offer”). Subsequently, the Tender Offer closed on 29 November 2011.

Pursuant to the Tender Offer result, Kim Eng received valid acceptances in respect of an aggregate of 261,518,034 ATR KE shares, representing approximately 24.48% of ATR KE shares. Prior to the Tender Offer, Kim Eng owned 797,405,432 ATR KE shares or approximately 74.64% of the ATR KE shares. Upon crossing of the tendered shares on 9 December 2011, Kim Eng ownership in ATR KE has increased to 1,058,923,466 shares, representing approximately 99.11% of ATR KE shares.

Based on the above results, ATR KE’s public ownership level would fall to 0.89%, which is below the 10% minimum public ownership required of listed firms. That being the case, ATR KE is evaluating steps it can take to address the matter and shall disclose the same as soon as the appropriate course of action has been finalised.

Please refer to the attached announcement by ATR KE, for further details.

This Announcement is dated 9 December 2011.

 


Announcement Info

Company Name MALAYAN BANKING BERHAD  
Stock Name MAYBANK    
Date Announced 9 Dec 2011  
Category General Announcement
Reference No MI-111208-69344

Attachments

  1. MAYBANk091211.pdf (Size: 65,655 bytes)