Type | Announcement |
Subject | OTHERS |
Description | Malayan Banking Berhad (“Maybank”) – Cessation of Subsidiary |
Maybank wishes to announce that Maybank ATR Kim Eng Capital Partners, Inc. (“MATRKE Capital”), an indirect subsidiary of Maybank through Maybank Kim Eng Holdings Limited, has sold 430,000 common shares it owned in ATR KimEng AMG Holdings, Inc. (“ATRKE AMG”), representing 82.69% ownership in ATRKE AMG, to ATRAM Investment Management Partners Corporation (“ATRAM Investment”), a company which is 35% owned by MATRKE Capital, on 18 December 2013 (“Closing Date”) (the “Sale”). ATRKE AMG owns 96.09% of ATR KimEng Asset Management, Inc. (“ATRAM”). Effective the Closing Date, ATRKE AMG and ATRAM cease to be indirect subsidiaries of Maybank, although MATRKE Capital continues to own 35% of ATRAM Investments. The Sale will not have any effect on the share capital of Maybank and substantial shareholders’ shareholdings in Maybank and does not have any material effect on the consolidated earnings and net assets of Maybank for the financial year ending 31 December 2013. None of the directors and substantial shareholders of Maybank and/or persons connected to them have any interest, direct or indirect, in the Sale. |
Company Name | MALAYAN BANKING BERHAD |
Stock Name | MAYBANK |
Date Announced | 19 Dec 2013 |
Category | General Announcement |
Reference No | MB-131217-52155 |