| 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 | (Unless stated otherwise, definitions used in this announcement shall carry the same meaning as defined in the announcement dated 21 March 2008). We refer to the announcements dated 21 March 2008 and 29 May 2008 in relation to the Proposed Acquisition. On behalf of the Company, Aseambankers Malaysia Berhad wishes to announce that Maybank had on 9 September 2008 entered into a supplemental agreement with An Binh Bank to amend certain terms of the subscription agreement dated 21 March 2008 (“SA”) in relation to, amongst others, the total purchase consideration and manner of satisfaction of the purchase consideration for the Proposed Acquisition. As stated in the announcement dated 21 March 2008, pursuant to the SA, Maybank shall be entitled to subscribe for approximately 15% of the total paid-up Charter Capital of An Binh Bank for a total cash consideration of approximately VND2.1 trillion or the equivalent of approximately RM430 million, on or before 31 December 2008. With the execution of the supplemental agreement, the total purchase consideration for the 15% of the total paid-up Charter Capital of An Binh Bank has been revised downward to approximately VND1.58 trillion or the equivalent of approximately RM327.1 million (at the exchange rate of VND1 : RM0.000207, as at 8 September 2008). The revised purchase price was mutually agreed between Maybank and An Binh Bank in view of the change in economic environment in Vietnam. After the completion of the subscription of 15% of the total Charter Capital of An Binh Bank and not later than 30 December 2008, An Binh Bank may distribute shares via a bonus issue to the existing shareholders of An Binh Bank (excluding Maybank). Therefore, Maybank shall subscribe to such additional shares for a total consideration of approximately VND43.8 billion or the equivalent of approximately RM9.1 million in order to maintain its 15% shareholding in An Binh Bank. Further, upon completion of the aforesaid acquisitions and subject to the approval of the relevant authorities, Maybank will also subscribe for an additional 5% of the total Charter Capital of An Binh Bank for a total consideration of approximately VND356.5 billion or the equivalent of approximately RM73.8 million. Pursuant thereto, Maybank will eventually hold 20% of the total Charter Capital of An Binh Bank at a total consideration of approximately RM410 million. This announcement is dated 9 September 2008. |
| Company Name | MALAYAN BANKING BERHAD |
| Stock Name | MAYBANK |
| Date Announced | 9 Sept 2008 |
| Category | General Announcement |
| Reference No | CU-080909-43182 |