COMPULSORY ACQUISITION 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 ("MNIH SHARES") AT A CASH OFFER PRICE OF RM4.02 PER MNIH ORDINARY SHARE

Mar 29, 2006 Back
Type Announcement
Subject MALAYAN BANKING BERHAD ("MAYBANK" OR "THE COMPANY")

COMPULSORY ACQUISITION 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 ("MNIH SHARES") AT A CASH OFFER PRICE OF RM4.02 PER MNIH ORDINARY SHARE

Contents :

We refer to our announcement dated 3 March 2006 wherein on behalf of Mayban Fortis, Aseambankers Malaysia Berhad (“Aseambankers”) had announced the level of acceptances for the unconditional mandatory general offer as at 5:00 p.m. (Malaysian Time) on 3 March 2006, as well as the intention of Mayban Fortis to invoke the provisions of Section 34 of the Securities Commission Act, 1993 (“SC Act”) to compulsorily acquire the remaining MNIH Shares for which acceptances have not been received, within two (2) months from 3 March 2006.

On behalf of Mayban Fortis, Aseambankers wishes to announce that, in accordance with the provisions of Section 34 of the SC Act, Mayban Fortis has on 29 March 2006 despatched the notice to the dissenting shareholders of MNIH (“Notice”) stating its desire to acquire the remaining MNIH Shares held by the said dissenting shareholders on the basis of a cash payment of RM4.02 for each MNIH Share, together with a statutory declaration confirming that the conditions for the sending of the Notice have been satisfied.

This announcement is dated 29 March 2006.

 

Announcement Info

Company Name MALAYAN BANKING BERHAD  
Stock Name MAYBANK    
Date Announced 29 Mar 2006  
Category General Announcement
Reference No CU-060328-35154