Conditional take-over offer by IJM for all the ordinary shares of RM1.00 each of Road Builder (M) Holdings Bhd (“RBH”) (“RBH Shares”) at the offer price of RM3.00 per share to be satisfied by the issuance of up to 273,293,885 new ordinary shares of RM1.00 each of IJM (“IJM Shares”) on the basis of one (1) new IJM Share at the issue price of RM6.00 for every two (2) existing RBH Shares (“Offer Shares”) held (“Offer”)
 

We refer to the Offer Document that was despatched to the shareholders of RBH on 10 January 2007 and the announcements dated 31 January 2007 and 2 February 2007. 

Pursuant to Section 25(1) of the Malaysian Code on Take-Overs and Mergers, 1998 (“the Code”), the Company wishes to announce that has received acceptances to the Offer of 90.41% of the issued and paid-up share capital of RBH of which 90.39% are valid acceptances (details of which are set out in Table 1 below).  

As the level of acceptances has exceeded 90% of the total issued and paid-up share capital of RBH, Bursa Malaysia Securities Berhad (“Bursa Securities”) can now suspend trading in RBH Shares in accordance with Paragraph 8.15(4) of its Listing Requirements. 

Further, as stated in Section 9 of the Offer Document, the Company intends to invoke the provisions of Section 34 of the Securities Commission Act, 1993 to compulsorily acquire any remaining Offer Shares for which acceptances were not received by 11 March 2007 (“Closing Date”). 

As such, RBH’s shareholders who have yet to accept the Offer are advised to ensure that their acceptances are received by the Closing Date. 

Accepting shareholders of RBH are advised to deposit their duly completed Form of Transfer and Acceptance with IGB Corporation Berhad at 23rd Floor, Menara IGB, 1 The Boulevard, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur (Tel: 603-22898989 Fax: 603-22898983) by then.

This announcement is dated 26 February 2007.