| Type | Announcement |
| Subject | Malayan Banking Berhad (“Maybank” or “the Company”) Proposed acquisition by Maybank of up to 20% of the issued and paid-up share capital of MCB Bank Limited (“MCB”) for a purchase consideration to be wholly satisfied in cash (“Proposed Acquisition”) |
| Contents | On behalf of the Board of Directors of Maybank (“Board”), Aseambankers Malaysia Berhad (“Aseambankers”) is pleased to announce that the Company had on 3 May 2008 entered into five (5) separate Share Purchase Agreements (“SPAs”) with each of the respective party(ies): (i) Mian Umer Mansha, Mian Hasan Mansha, Muhammad Saleem (collectively referred to as the “Individual Sellers”); (ii) Muslim Commercial Bank Limited Employees’ Pension Fund; (iii) The Muslim Commercial Bank Limited Provident Fund; (iv) Nishat Mills Limited Employees Provident Fund Trust; and (v) Adamjee Insurance Company Limited, (collectively referred to as the “Vendor(s)” and “Vendor” shall, where the context permits, mean any one of them) for the acquisition of 94,241,527 ordinary shares of par value PKR10 each in MCB (“Sale Shares”) representing 15% of the issued and paid-up share capital of MCB for a cash price of PKR470 per MCB Share or a total cash consideration of approximately PKR44.29 billion or the equivalent of approximately RM2.17 billion (at the exchange rate of RM1.00 : PKR20.44, as at 2 May 2008). Upon completion of the SPAs, Maybank will emerge as a major shareholder of MCB. On the same date, Maybank also entered into the following: (i) an Agreement for the Right to Sell and Purchase Shares with the Individual Sellers wherein its terms and conditions will cause Maybank to acquire additional ordinary shares of par value PKR10 each in MCB (“MCB Shares”) of up to 5% of the issued and paid-up share capital of MCB; and (ii) a Shareholders’ Agreement with certain shareholders of MCB (the “Nishat Group”) to reflect the long term relationship and strategic cooperation between Maybank and the Nishat Group. Please refer to the attachment below for the full details of the announcement. This announcement is dated 5 May 2008. |
| Company Name | MALAYAN BANKING BERHAD |
| Stock Name | MAYBANK |
| Date Announced | 5 May 2008 |
| Category | General Announcement |
| Reference No | CU-080504-65042 |