Announcement
March 12, 2007

Updated : 12/03/2007

IJM CORPORATION BERHAD ("IJM" or "the Company")

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")
 

(Unless otherwise indicated, specified or defined (or re-defined as the case may be) in this announcement, the definitions contained in IJM's offer document dated 10 January 2007 in relation to the Offer (“Offer Document”) apply throughout this announcement)

We refer to the Offer Document and our latest announcement dated 27 February 2007 in relation to the Offer.

On 31 January 2007, Aseambankers, on behalf of IJM, announced that the closing date for the Offer had been extended to 5.00 p. m. (Malaysian Time) to Sunday, 11 March 2007 (“Closing Date”).

Pursuant to Section 25(1) of the Code, IJM wishes to inform that as at 5.00 p.m. on the Closing Date, IJM holds approximately 94.97% of the issued and paid-up share capital of RBH, the details of which are set out in Table 1 below.

As the level of acceptances received by IJM has exceeded nine-tenths (9/10) of the nominal value of the Offer Shares (where trading in RBH Shares was suspended by Bursa Securities on 6 March 2007 in accordance with Paragraphs 8.15(4) and 8.15(5) of the Listing Requirements of Bursa Securities), and as stated in Section 10 of the Offer Document, IJM intends to invoke the provisions of Section 34 of the Securities Commission Act, 1993 to compulsorily acquire the remaining Offer Shares for which acceptances were not received by the Closing Date.

This announcement is dated 12 March 2007.

Table 1 - Level of Acceptance

 

Number of RBH shares

% of issued and paid-up share capital of RBH

 

   

Held by IJM as at 10 January 2007, being the date of despatch of the Offer Document

- -

 

   

Held by persons acting in concert with IJM as at 10 January 2007, being the date of despatch of the Offer Document

- -

 

   

In respect of valid acceptances of the Offer which have been received as at 5.00 p.m. on Sunday, 11 March 2007

517,663,585 94.95

 

   

In respect of the acceptances of the Offer which have been transferred into the Central Depository System account of IJM as at 5.00 p.m. on Sunday, 11 March 2007 and still pending verification

115,500 0.02

 

   

Acquired or agreed to be acquired during the Offer period

- -

 

   
Total 517,779,085 94.97
 
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