Malayan Banking Berhad ("Maybank" or "the Company") Proposed acquisition by Maybank of up to 20% of the total charter capital of An Binh Commercial Joint Stock Bank ("An Binh Bank") for a purchase consideration to be wholly satisfied in cash ("Proposed Acquisition")

Type	Announcement
Subject	Malayan Banking Berhad ("Maybank" or "the Company") Proposed acquisition by Maybank of up to 20% of the total charter capital of An Binh Commercial Joint Stock Bank ("An Binh Bank") for a purchase consideration to be wholly satisfied in cash ("Proposed Acquisition")
Contents	We refer to the announcements dated 21 March 2008, 29 May 2008, 9 September 2008, 24 September 2008 and 25 August 2009 in relation to the Proposed Acquisition. On behalf of the Company, Maybank Investment Bank Berhad (formerly known as Aseambankers Malaysia Berhad) is pleased to announce that Maybank has on 17 December 2009, successfully completed the acquisition of 17,813,366 shares in An Binh Bank ("Fourth Subscription"), representing 5% of the total charter capital of An Binh Bank ("Charter Capital") for a total consideration of approximately VND356.3 billion or the equivalent of approximately RM66.4 million (at the exchange rate of VND5,362 : RM1.00 as of 16 December 2009) pursuant to the Subscription Agreement dated 21 March 2008 ("Subscription Agreement") and the Supplemental Agreement (supplementing the Subscription Agreement) dated 9 September 2008 ("Supplemental Agreement"). On 10 December 2009 Maybank had received a letter from An Binh Bank confirming, amongst others, that all approvals including regulatory approvals required from the Prime Minister’s Office, the State Bank of Vietnam and the State Securities Committee have been received. The number of An Binh Bank shares subscribed by Maybank under the Fourth Subscription is slightly lower than the 17,823,529 shares stipulated in the Supplemental Agreement. The difference is due to the apportionment of the surplus amount to An Binh Bank’s list of shareholders on 5 April 2008 of 12,261,771 shares, as compared to the 12,400,000 shares stated in the Supplemental Agreement. In law, Maybank share capital in An Binh Bank cannot exceed 20% of the total capital and this has resulted in the above-mentioned variation in the number of shares to be issued to Maybank. Consequently, the total purchase consideration of VND356.3 billion is lower than the purchase consideration of VND356.5 billion stipulated in the Supplemental Agreement. Pursuant thereto, Maybank now holds 60,565,443 shares in An Binh Bank, which represents 20% total Charter Capital of An Binh Bank. This announcement is dated 17 December 2009.

 

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Announcement Info

Company Name	MALAYAN BANKING BERHAD
Stock Name	MAYBANK
Date Announced	17 Dec 2009
Category	General Announcement
Reference No	MI-091217-51605