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Further to the completion of the voluntary
general offer in April 2007, and thus making RBH a wholly-owned subsidiary
of IJM, Aseambankers Malaysia Berhad, on behalf of IJM, is pleased to
announce that the Company had entered into a supplemental agreement on 17
December 2007, to vary the terms of the Master Sale Agreement dated 21
November 2006 for the Proposed Acquisition, as follows:
| i) |
the mode of satisfaction for the total
purchase consideration to be satisfied entirely by way of
inter-company owing instead of the issuance of RULS |
| ii) |
certain assets/
liabilities will not be transferred, assigned and/or novated from RBH to IJM
as part of the Group’s streamlining of its business divisions. Hence, the
total purchase consideration is varied from RM1,564,641,207 to RM
RM566,269,346; and |
| iii) |
one of the
conditions precedent to the MSA shall be waived accordingly after taking into
consideration (ii) above |
Given that the RULS will no longer be issued in
view of the above, the issuance of RULS (which was in conjunction with the
Proposed Acquisition) for which IJM had sought and obtained the Securities
Commission’s approval is now aborted.
This announcement is dated 17 December 2007.
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