UNCONDITIONAL MANDATORY GENERAL OFFER ("MGO") BY MAYBAN FORTIS HOLDINGS BERHAD ("MAYBAN FORTIS"), A 70%-OWNED SUBSIDIARY OF MAYBANK, FOR ALL THE REMAINING ORDINARY SHARES OF RM1.00 EACH IN MNI HOLDINGS BERHAD ("MNIH") NOT ALREADY OWNED BY MAYBAN FORTIS ("OFFER SHARES") AT A CASH OFFER PRICE OF RM4.02 PER MNIH ORDINARY SHARE ("MNIH MGO")
| Type | Announcement |
| Subject | MALAYAN BANKING BERHAD ("MAYBANK" OR "THE COMPANY") UNCONDITIONAL MANDATORY GENERAL OFFER ("MGO") BY MAYBAN FORTIS HOLDINGS BERHAD ("MAYBAN FORTIS"), A 70%-OWNED SUBSIDIARY OF MAYBANK, FOR ALL THE REMAINING ORDINARY SHARES OF RM1.00 EACH IN MNI HOLDINGS BERHAD ("MNIH") NOT ALREADY OWNED BY MAYBAN FORTIS ("OFFER SHARES") AT A CASH OFFER PRICE OF RM4.02 PER MNIH ORDINARY SHARE ("MNIH MGO") |
Contents :
We refer to our announcements dated 3 January 2006, 23 January 2006, 9 February 2006, and Mayban Fortis' offer document dated 3 January 2006 in relation to the MNIH MGO ("Offer Document").Aseambankers Malaysia Berhad ("Aseambankers"), on behalf of Mayban Fortis, wishes to announce that the MNIH MGO has closed at 5.00 p.m. (Malaysian Time) on Friday, 3 March 2006 (“Final Closing Date”).
Pursuant to Section 25(1) of the Malaysian Code on Take-Overs and Mergers, 1998 (“the Code”), Aseambankers, on behalf of Mayban Fortis, wishes to announce that as at 5:00 p.m. (Malaysian Time) on the Final Closing Date, Mayban Fortis and the persons acting in concert with Mayban Fortis collectively hold approximately 98.84% of the issued and paid-up share capital of MNIH, the details of which are set out in Table 1 below.
As the level of Mayban Fortis' shareholdings in MNIH has exceeded 90% of the total issued and paid-up share capital of MNIH, Bursa Malaysia Securities Berhad ("Bursa Securities") may, in accordance with Paragraphs 8.15(4) and 8.15(5) of its Listing Requirements, suspend trading in MNIH shares, and subsequently remove all MNIH shares from the Official List of Bursa Securities.
Notwithstanding the above, as the level of acceptances received by Mayban Fortis has exceeded nine-tenths (9/10) of the nominal value of the Offer Shares, and as stated in Section 9.2 of the Offer Document, Mayban Fortis will invoke the provisions of Section 34 of the Securities Commission Act, 1993 to compulsorily acquire the remaining Offer Shares for which acceptances have not been received, within two (2) months from 3 March 2006.
This announcement is dated 3 March 2006.
 |
Number of MNIH shares
|
% of issued and paid-up share capital of MNIH
|
| - Held by Mayban Fortis as at 3 January 2006, being the date of despatch of the Offer Document |
210,060,496
|
73.62
|
| - Held by persons acting in concert with Mayban Fortis as at 3 January 2006, being the date of despatch of the Offer Document |
6,678,900
|
2.34
|
| - In respect of which valid acceptances of the MNIH MGO have been received as at 5:00 pm (Malaysian Time) on the Final Closing Date |
65,000,470
|
22.78
|
| - In respect of which acceptances of the MNIH MGO have been received as at 5:00 p.m. (Malaysian Time) on the Final Closing Date but are subject to verification |
270,708
|
0.10
|
| - Acquired or agreed to be acquired during the offer period, being the period commencing 29 August 2005 to the Final Closing Date |
-
|
-
|
| TOTAL |
282,010,574
|
98.84
|
Announcement Info
| Company Name | MALAYAN BANKING BERHAD |
| Stock Name | MAYBANK |
| Date Announced | 3 Mar 2006 |
| Category | General Announcement |
| Reference No | MM-060303-66853 |