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Multiple Proposals

BackMar 08, 2011
Date Announced : 08/03/2011  



Type : Announcement
Subject :
MULTIPLE PROPOSALS

Description :
MALAYSIA BUILDING SOCIETY BERHAD (“MBSB” OR “COMPANY”)

(I) PROPOSED RENOUNCEABLE RIGHTS ISSUE OF UP TO 507,087,462 NEW ORDINARY SHARES OF RM1.00 EACH IN MBSB (“MBSB SHARES”) (“RIGHTS SHARES”) AT AN ISSUE PRICE OF RM1.00 FOR EACH RIGHTS SHARE ON THE BASIS OF 5 RIGHTS SHARES FOR EVERY 7 EXISTING MBSB SHARES HELD AS AT AN ENTITLEMENT DATE TO BE DETERMINED LATER TOGETHER WITH UP TO 507,087,462 NEW FREE DETACHABLE WARRANTS (“WARRANTS”) ON THE BASIS OF 1 WARRANT FOR EVERY 1 RIGHTS SHARE SUBSCRIBED;

(II) PROPOSED CHANGE IN THE COMPOSITION AND INCREASE IN THE AUTHORISED SHARE CAPITAL OF MBSB; AND

(III) PROPOSED AMENDMENTS TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF MBSB

(COLLECTIVELY TO BE REFERRED TO AS “PROPOSALS”)
   
 

Announcement Details/Table Section :

We refer to the past announcements made in relation to the Proposals. All abbreviations used herein shall have the same meaning as those defined in the said announcements unless stated otherwise.

On behalf of the Board, RHB Investment Bank is pleased to announce that Bursa Securities has vide its letter dated 8 March 2011 approved the following:-

(a)                 admission to the Official List and the listing and quotation of up to 507,087,462 Warrants on the Main Market of Bursa Securities; and

(b)                 listing of and quotation for the following on the Main Market of Bursa Securities:-

(1)           up to 507,087,462 Rights Shares; and

(2)           up to 507,087,462 new MBSB Shares to be issued pursuant to the exercise of the Warrants,

subject to, inter-alia, the following conditions:-

(1)           MBSB and its Adviser must fully comply with the relevant provisions under the Main Market Listing Requirements of Bursa Securities pertaining to the implementation of the Proposed Rights Issue with Warrants;

(2)           MBSB and its Adviser to inform Bursa Securities upon the completion of the Proposed Rights Issue with Warrants; and

(3)           MBSB to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Rights Issue with Warrants is completed.

 

This announcement is dated 8 March 2011.