| Type | Announcement |
| Subject | MALAYAN BANKING BERHAD ("MAYBANK" OR "THE COMPANY") MANDATORY GENERAL OFFERS ("MGO") BY MAYBAN FORTIS HOLDINGS BERHAD ("MAYBAN FORTIS"), A 70%-OWNED SUBSIDIARY OF MAYBANK, FOR : (A) THE REMAINING ORDINARY SHARES OF RM1.00 EACH IN MNI HOLDINGS BERHAD ("MNIH") NOT ALREADY HELD BY MAYBAN FORTIS AT A CASH OFFER PRICE OF RM4.02 PER MNIH ORDINARY SHARE ("MNIH MGO"); AND (B) THE REMAINING ORDINARY SHARES OF RM1.00 EACH IN MALAYSIA NATIONAL INSURANCE BERHAD ("MNIB") NOT ALREADY HELD MY MNIH AT A CASH OFFER PRICE OF RM6.83 PER MNIB ORDINARY SHARE ("MNIB MGO"), PURSUANT TO THE ACQUISITION BY MAYBAN FORTIS OF APPROXIMATELY 73.62% EQUITY INTEREST IN MNIH ("MNIH ACQUISITION"). |
Pursuant to the announcement dated 28 November 2005, the Sale of Shares Agreement dated 29 August 2005 in relation to the MNIH Acquisition is now deemed to have become unconditional.
Further to the announcement dated 29 August 2005, Aseambankers Malaysia Berhad on behalf of Mayban Fortis had on even date served notices of an unconditional MGO on the Board of Directors ("Board") of both MNIH and MNIB in respect of the MNIH MGO and MNIB MGO respectively. The Boards of MNIH and MNIB have acknowledged receipt of the same. Copies of the said notices are attached herewith.
This announcement is dated 29 November 2005.
| Company Name | MALAYAN BANKING BERHAD |
| Stock Name | MAYBANK |
| Date Announced | 29 Nov 2005 |
| Category | General Announcement |
| Reference No | CU-051128-56771 |