March 11, 2015

Company announcements: MAXIS, PETGAS, AEON, PASDEC, DIGI, METALR

MAXIS - Changes in Sub. S-hldr's Int. (29B) - Employees Provident Fund Board ("EPF Board")

Announcement Type: Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Company NameMAXIS BERHAD  
Stock Name MAXIS  
Date Announced11 Mar 2015  
CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Reference NoMM-150311-98636

Particulars of substantial Securities Holder

NameEmployees Provident Fund Board ("EPF Board")
AddressTingkat 19, Bangunan KWSP, Jalan Raja Laut, 50350 Kuala Lumpur
NRIC/Passport No/Company No.EPF ACT 1991
Nationality/Country of incorporationMalaysia
Descriptions (Class & nominal value)Ordinary shares of RM0.10 each in Maxis Berhad ("Maxis Shares")
Name & address of registered holderCitigroup Nominees (Tempatan) Sdn Bhd
EPF Board
Level 42, Menara Citibank, 165 Jalan Ampang, 50450 Kuala Lumpur
- in respect of the acquisition of 1,000,000 Maxis Shares

Citigroup Nominees (Tempatan) Sdn Bhd
Employees Provident FD BD (NOMURA)
Level 42, Menara Citibank, 165 Jalan Ampang, 50450 Kuala Lumpur
- in respect of the acquisition of 600,000 Maxis Shares

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transactionDate of change
No of securities
Price Transacted (RM)
Acquired06/03/2015
1,600,000
 

Circumstances by reason of which change has occurredAcquisition
Nature of interestDirect and Indirect
Direct (units)417,480,000 
Direct (%)5.56 
Indirect/deemed interest (units)33,233,300 
Indirect/deemed interest (%)0.44 
Total no of securities after change450,713,300
Date of notice09/03/2015

Remarks :
This announcement is based on the information in the Notice of Change in the Interests of Substantial Shareholder (Form 29B) dated 9 March 2015 and received by the Company on 11 March 2015.

The registered holders of the 450,713,300 Maxis Shares are as follows:-

Directly held
1. Citigroup Nominees (Tempatan) Sdn Bhd
EPF Board
- in respect of 415,980,000 Maxis Shares

2. EPF Board
- in respect of 1,500,000 Maxis Shares

Held through nominee
3. Citigroup Nominees (Tempatan) Sdn Bhd
Employees Provident FD BD (KIB)
- in respect of 700,000 Maxis Shares

4. Citigroup Nominees (Tempatan) Sdn Bhd
Employees Provident FD BD (AFFIN-HWG)
- in respect of 3,900,000 Maxis Shares

5. Citigroup Nominees (Tempatan) Sdn Bhd
Employees Provident FD BD (RHB INV)
- in respect of 1,000,000 Maxis Shares

6. Citigroup Nominees (Tempatan) Sdn Bhd
Employees Provident FD BD (AM INV)
- in respect of 1,782,600 Maxis Shares

7. Citigroup Nominees (Tempatan) Sdn Bhd
Employees Provident FD BD (NOMURA)
- in respect of 17,775,900 Maxis Shares

8. Citigroup Nominees (Tempatan) Sdn Bhd
Employees Provident FD BD (CIMB PRI)
- in respect of 4,581,100 Maxis Shares

9. Citigroup Nominees (Tempatan) Sdn Bhd
Employees Provident FD BD (ARIM)
- in respect of 850,000 Maxis Shares

10. Citigroup Nominees (Tempatan) Sdn Bhd
Employees Provident FD BD (TEMPLETON)
- in respect of 2,643,700 Maxis Shares


PETGAS - Changes in Sub. S-hldr's Int. (29B) - Employees Provident Fund Board

Announcement Type: Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Company NamePETRONAS GAS BERHAD  
Stock Name PETGAS  
Date Announced11 Mar 2015  
CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Reference NoPG-150311-92CB1

Particulars of substantial Securities Holder

NameEmployees Provident Fund Board
AddressTingkat 19,
Bangunan KWSP,
Jalan Raja Laut,
50350 Kuala Lumpur
NRIC/Passport No/Company No.EPF ACT 1991
Nationality/Country of incorporationMalaysia
Descriptions (Class & nominal value)Ordinary Shares of RM1.00/share
Name & address of registered holderCitigroup Nominees (Tempatan) Sdn Bhd (Employees Provident Fund Board)
Level 42,Menara Citibank,
165 Jalan Ampang,
50450 Kuala Lumpur.

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transactionDate of change
No of securities
Price Transacted (RM)
Acquired06/03/2015
113,200
 

Circumstances by reason of which change has occurred1.Purchase of shares in the open market.
Nature of interestDirect
Direct (units)238,028,700 
Direct (%)12.03 
Indirect/deemed interest (units) 
Indirect/deemed interest (%) 
Total no of securities after change238,028,700
Date of notice09/03/2015

Remarks :
The direct interest of 238,028,700 shares comprising:

a) 229,453,100 shares held by Citigroup Nominees(Tempatan) Sdn. Bhd;

b) 1,497,600 shares held EPF Board;

c) 190,600 shares held by Employees Provident Fund Board (RHB INV);

d) 1,022,100 shares held by Employees Provident Fund Board (AM INV);

e) 5,505,300 shares held by Employees Provident Fund Board (NOMURA);

f) 360,000 shares held by Employees Provident Fund Board (ARIM);

Received Form 29B on 11 March 2015.


PETGAS - Changes in Sub. S-hldr's Int. (29B) - KUMPULAN WANG PERSARAAN DIPERBADANKAN

Announcement Type: Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Company NamePETRONAS GAS BERHAD  
Stock Name PETGAS  
Date Announced11 Mar 2015  
CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Reference NoPG-150311-9CA73

Particulars of substantial Securities Holder

NameKUMPULAN WANG PERSARAAN DIPERBADANKAN
AddressAras 4, 5 & 6, Menara Yayasan Tun Razak
200, Jalan Bukit Bintang
55100 Kuala Lumpur
NRIC/Passport No/Company No.KWAPACT6622007
Nationality/Country of incorporationMalaysian
Descriptions (Class & nominal value)Ordinary Share of RM1.00/share
Name & address of registered holderKumpulan Wang Persaraan (Diperbadankan)
Aras 4, 5 & 6, Menara Yayasan Tun Razak
200, Jalan Bukit Bintang
55100 Kuala Lumpur

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transactionDate of change
No of securities
Price Transacted (RM)
Disposed04/03/2015
30,000
 
Disposed04/03/2015
30,000
 

Circumstances by reason of which change has occurred1.Disposal of share in open market by KWAP
2.Disposal of share in open market by KWAP's Fund Manager
Nature of interestDirect
Direct (units) 
Direct (%) 
Indirect/deemed interest (units) 
Indirect/deemed interest (%) 
Total no of securities after change111,052,000
Date of notice10/03/2015

Remarks :
Received Form 29B on 11 March 2015


AEON - Changes in Sub. S-hldr's Int. (29B) - Mitsubishi UFJ Financial Group, Inc ("MUFG")

Announcement Type: Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Company NameAEON CO. (M) BHD  
Stock Name AEON  
Date Announced11 Mar 2015  
CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Reference NoCC-150311-DDAAB

Particulars of substantial Securities Holder

NameMitsubishi UFJ Financial Group, Inc ("MUFG")
Address7-1, Marunouchi 2-Chome, Chiyoda-ku, Tokyo, 100-8330, Japan
NRIC/Passport No/Company No.NIL
Nationality/Country of incorporationJapan
Descriptions (Class & nominal value)Ordinary Shares of RM0.50 each
Name & address of registered holderAberdeen Asset Management PLC ("Aberdeen") and its subsidiaries
10 Queen's Terrace
Aberdeen, AB10 1YG
Scotland

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transactionDate of change
No of securities
Price Transacted (RM)
Acquired05/03/2015
200,000
 

Circumstances by reason of which change has occurredAcquisition by Aberdeen.

MUFG is deemed interested in the shares by virtue of:

1. MUFG's wholly owned subsidiary, Mitsubishi UFJ Trust & Banking Corp, holding more than 15% in Aberdeen.

2. MUFG's holding more than 15% interest in shares of Morgan Stanley & Co. International Plc Group.
Nature of interestIndirect
Direct (units) 
Direct (%) 
Indirect/deemed interest (units)273,662,064 
Indirect/deemed interest (%)19.4916 
Total no of securities after change273,662,064
Date of notice10/03/2015

Remarks :
The total number of 273,662,064 Ordinary Shares of RM0.50 each are held as follows:

(i) 273,461,800 Ordinary Shares of RM0.50 each are registered in the name of Aberdeen and its subsidiaries; and
(ii) 200,264 Ordinary Shares of RM0.50 each are registered in the name of Morgan Stanley & Co. International Plc.

The Form 29B was received by the Company on 11 March 2015.


AEON - Changes in Sub. S-hldr's Int. (29B) - Employees Provident Fund Board

Announcement Type: Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Company NameAEON CO. (M) BHD  
Stock Name AEON  
Date Announced11 Mar 2015  
CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Reference NoCC-150311-35091

Particulars of substantial Securities Holder

NameEmployees Provident Fund Board
AddressTingkat 19, Bangunan KWSP, Jalan Raja Laut, 50350 Kuala Lumpur
NRIC/Passport No/Company No.EPF ACT 1991
Nationality/Country of incorporationMALAYSIA
Descriptions (Class & nominal value)Ordinary Shares of RM0.50 each
Name & address of registered holder(i) Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board
Level 42, Menara Citibank
165, Jalan Ampang
50450 Kuala Lumpur

(ii) Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (NOMURA)
Level 42, Menara Citibank
165, Jalan Ampang
50450 Kuala Lumpur

(iii) Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (ABERDEEN)
Level 42, Menara Citibank
165, Jalan Ampang
50450 Kuala Lumpur

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transactionDate of change
No of securities
Price Transacted (RM)
Disposed06/03/2015
97,500
 
Disposed06/03/2015
73,000
 
Acquired06/03/2015
53,300
 

Circumstances by reason of which change has occurred(i) & (ii) Disposal of Shares
(iii) Acquisition of Shares
Nature of interestDirect
Direct (units)96,962,400 
Direct (%)6.9062 
Indirect/deemed interest (units) 
Indirect/deemed interest (%) 
Total no of securities after change96,962,400
Date of notice09/03/2015

Remarks :
The total number of 96,962,400 Ordinary Shares of RM0.50 each are held as follows:

1) 59,921,100 Ordinary Shares of RM0.50 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board

2) 2,000,000 Ordinary Shares of RM0.50 each are registered in the name of Employees Provident Fund Board

3) 160,000 Ordinary Shares of RM0.50 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (NOMURA)

4) 14,396,200 Ordinary Shares of RM0.50 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (CIMB PRI)

5) 378,500 Ordinary Shares of RM0.50 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (TEMPLETON)

6) 20,106,600 Ordinary Shares of RM0.50 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (ABERDEEN)

The Form 29B was received by the Company on 11 March 2015.


PASDEC - Change in Principal Officer

Announcement Type: Change in Principal Officer
Company NamePASDEC HOLDINGS BERHAD  
Stock Name PASDEC  
Date Announced11 Mar 2015  
CategoryChange in Principal Officer
Reference NoPH-150311-62717

Date of change10/03/2015
NameDATO' MOHD KHAIRUDDIN BIN HAJI ABDUL MANAN
Age58
NationalityMALAYSIAN
DesignationChief Executive Officer
Type of changeCessation of Office
ReasonEXPIRY OF CONTRACT ON 10 MARCH 2015
Details of any disagreement that he/she has with the Board of DirectorsNo
Whether there are any matters that need to be brought to the attention of the shareholdersNo
QualificationsB.A. (HONS) STRATEGIC ENVIRONMENTAL PLANNING STUDIES FROM LIVERPOOL JOHN MOORES UNIVERSITY, ENGLAND
Working experience and occupation HE WAS CHIEF EXECUTIVE OFFICER OF PASDEC HOLDINGS BERHAD FROM 11 MARCH 2015 TO 10 MARCH 2015. HE IS A BUSINESSMAN WITH VAST EXPERIENCE IN PROPERTY DEVELOPMENT AND CONSTRUCTION.
Directorship of public companies (if any)
Family relationship with any director and/or major shareholder of the listed issuerNIL
Any conflict of interests that he/she has with the listed issuer or its subsidiariesNIL
Details of any interest in the securities of the listed issuer or its subsidiariesNIL

Remarks :
DATO' MOHD KHAIRUDDIN APPOINTED AS GROUP MANAGING DIRECTOR OF THE COMPANY ON 11 MARCH 2015.


DIGI - TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS):RECURRENT RELATED PARTY TRANSACTIONS

Announcement Type: General Announcement
Company NameDIGI.COM BERHAD  
Stock Name DIGI  
Date Announced11 Mar 2015  
CategoryGeneral Announcement
Reference NoCC-150217-56609

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RECURRENT RELATED PARTY TRANSACTIONS
DescriptionDiGi.COM BERHAD (“the Company")

PROPOSED RENEWAL OF EXISTING SHAREHOLDERS' MANDATE FOR RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE IN THE ORDINARY COURSE OF BUSINESS

The Board of Directors of the Company wishes to announce that the Company proposes to seek the approval of its shareholders for proposed renewal of existing shareholders' mandate for the Company and its subsidiaries to enter into recurrent related party transactions of a revenue or trading nature with Telenor ASA and persons connected with Telenor ASA ("Proposed Shareholders’ Mandate") at the forthcoming 18th Annual General Meeting of the Company.

The recurrent related party transactions are in the ordinary course of business and carried out on normal commercial terms which are not more favourable to the related parties than those generally available to the public.

A Circular to shareholders containing the information on the Proposed Shareholders' Mandate will be issued in due course.

This announcement is dated 11 March 2015.



DIGI - Changes in Sub. S-hldr's Int. (29B) - Employees Provident Fund Board

Announcement Type: Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Company NameDIGI.COM BERHAD  
Stock Name DIGI  
Date Announced11 Mar 2015  
CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Reference NoCC-150311-DB2F5

Particulars of substantial Securities Holder

NameEmployees Provident Fund Board
AddressTingkat 19, Bangunan KWSP, Jalan Raja Laut, 50350 Kuala Lumpur
NRIC/Passport No/Company No.EPF ACT 1991
Nationality/Country of incorporationIncorporated in Malaysia
Descriptions (Class & nominal value)Ordinary Shares of RM0.01 each
Name & address of registered holderCitigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board
Level 42, Menara Citibank
165 Jalan Ampang
50450 Kuala Lumpur

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transactionDate of change
No of securities
Price Transacted (RM)
Acquired06/03/2015
5,348,000
 
Acquired06/03/2015
600,000
 
Disposed06/03/2015
1,454,700
 

Circumstances by reason of which change has occurredAcquired and disposed
Nature of interestDirect
Direct (units)1,046,531,940 
Direct (%)13.46 
Indirect/deemed interest (units) 
Indirect/deemed interest (%) 
Total no of securities after change1,046,531,940
Date of notice09/03/2015

Remarks :
The total number of 1,046,531,940 Ordinary Shares of RM0.01 each are held as follows:-

1) 946,737,550 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board;

2) 14,791,000 Ordinary Shares of RM0.01 each are registered in the name of Employees Provident Fund Board;

3) 8,700,000 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (AMUNDI);

4) 3,380,000 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (AFFIN-HWG);

5) 2,472,000 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (RHB INV);

6) 9,745,000 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (AM INV);

7) 500,000 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (MAYBAN);

8) 17,989,490 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (NOMURA);

9) 33,360,600 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (CIMB PRI);

10) 1,700,000 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (ARIM);

11) 2,306,300 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (TEMPLETON); and

12) 4,850,000 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (ABERDEEN).

The Form 29B was received by the Company on 11 March 2015.


METALR - WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR

Announcement Type: General Announcement
Company NameMETAL RECLAMATION BHD  
Stock Name METALR  
Date Announced11 Mar 2015  
CategoryGeneral Announcement
Reference NoCC-150305-61FD5

TypeAnnouncement
SubjectWINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR
DescriptionRESTRAINING ORDER UNDER SECTION 176 (10) OF THE COMPANIES ACT, 1965 (“THE ACT”) IN FAVOUR OF METAL RECLAMATION BHD (“MRB” OR “THE COMPANY”) AND METAL RECLAMATION (INDUSTRIES) SENDIRIAN BERHAD (“MRISB”)

Reference is made to the announcement made by the Company on 20 November 2014.

The Board of Directors of the Company hereby announces that the Judge has allowed and extended the Restraining Order for 30 days from 3 March 2015 to the Company and Metal Reclamation (Industries) Sendirian Berhad (“MRISB”), a wholly-owned subsidiary of the Company (collectively defined herein as "Companies").

The Sealed copy of the Restraining Order dated 3 March 2015 was extracted and received on 11 March 2015.

The debts owing by the Company and its subsidiaries to the creditors will be restructured under the Proposed Corporate Debt Restructuring Scheme, which is pending the finalisation of the proposed scheme of arrangement for the scheme creditors. Pursuant thereto, the Companies have found it necessary to obtain the order to ensure that the creditors of the Company and its subsidiaries (“Group”) are treated equally and efficiently, as well as to restrain all potential litigations or proceedings which may affect the formulation of the Proposed Corporate Debt Restructuring Scheme.

The details of the proposed scheme of arrangement will be announced in due course.

This announcement is dated 11 March 2015.


METALR - OTHERS PROPOSED INVESTMENT BY SEGI RECYCLING TECHNOLOGY CO. LTD IN METAL RECLAMATION BHD. (“PROPOSED INVESTMENT”)

Announcement Type: General Announcement
Company NameMETAL RECLAMATION BHD  
Stock Name METALR  
Date Announced11 Mar 2015  
CategoryGeneral Announcement
Reference NoCC-150311-42197

TypeAnnouncement
SubjectOTHERS
DescriptionPROPOSED INVESTMENT BY SEGI RECYCLING TECHNOLOGY CO. LTD IN METAL RECLAMATION BHD. (“PROPOSED INVESTMENT”)

1. INTRODUCTION

The Board of Directors of MRB (“Board”) is pleased to announce that MRB had on 11 March 2015 entered into a conditional term sheet (“Term Sheet”) with Segi Recycling Technology Co. Ltd. (“Segi”), a company incorporated in the Republic of Korea, for the proposed investment by Segi in MRB.

The principal activities of Metal Reclamation (Industries) Sdn. Bhd. ("MRI"), a wholly owned subsidiary of MRB, are reclamation and sale of lead and lead alloys.

The principal terms of the Term Sheet which is subject to entering into a definitive investment agreement, are set out as below.

2. PRINCIPAL TERMS OF AGREEMENT

2.1 Advances

Segi will invest a sum of US$20.0 million by way of a loan (“Advances”) into MRB as new working capital to enable MRI to immediately operate at its refinery at an optimum production capacity on a stable basis through the year. This said sum shall be utilised to ensure and procure on a consistent basis adequate raw material supplies to support a stable running stock inventory for 2 to 3 months.

2.2 Further Advances

Segi will further invest an additional sum of US$5.0 million by way of a further loan (“Further Advances”) into MRB for the purpose of upgrading and further modernising the existing plant and refinery to a higher and international operational and environmental standard.

2.3 Restructuring Scheme of MRB

As part of the discussions to finalise the Definitive Agreement, MRB and Segi will study and agree on ways for Segi to participate in the restructuring scheme of MRB.

2.4 Loan due to Sabah Development Bank Berhad (“SDB”)

MRB shall ensure that the Loan due to SDB shall not exceed RM100 million. MRB shall procure the consent of SDB to sell its investment in Nutek Private Limited (“Nutek”) at a price no less than S$8.0 million (RM20.0 million). The said entire sales proceeds is to be utilised to immediately reduce the loan due to SDB to around RM80.0 million (“Remaining Debt”).

2.5 Restructuring of the Remaining Debt

Both parities shall use their best endeavours to obtain approval of SDB to restructure the said Remaining Debt of around RM80.0 million into a five (5) years Term Loan with a moratorium period of minimum three (3) months to allow MRI to reorganise and quickly achieve optimal production capacity. The principal and interest shall be paid on a monthly basis over 57 months commencing from the 4th month of the said five (5) years Term Loan. In addition, both parties shall use their utmost to comply with such other terms and conditions as shall be imposed by SDB in consideration of restructuring the Loan in respect of the Remaining Debt, including but not limited to, the appointment of SDB representatives to the Board of MRB to enable SDB to oversee the management and repayment of the restructured loan.

2.6 Security or collateral arrangement of the Term Loan

The security or collateral arrangement for the Term Loan shall be on the basis of a fixed and floating charge including a debenture over all the existing and future assets of MRI. In addition, the existing personal guarantees of the existing Directors and all the third party first charges shall be released and in exchange Segi is willing to have its said Advances and Further Advances totaling USD25.0 million made by Segi to be subordinated until the 5 years Term Loan is fully paid.

2.7 Other banks and other creditors

MRB shall arrange for debts due to other banks and other creditors (“Unsecured Creditors”) totaling approximately RM20.0 million to be rescheduled or restructured or be paid gradually over a period of time.

2.8 Laws governing the Term Sheet

This Term Sheet shall be governed by the Laws of Malaysia and subject to entering into a definitive investment agreement.

3. OTHER INFORMATION

Timely disclosure will be made when the relevant parties have entered into a definitive investment agreement.

Please note that the Term Sheet is subject to entering into a definitive investment agreement. Accordingly, shareholders and prospective investors are advised to exercise caution when dealing in the securities of MRB.

This announcement is dated 11 March 2015.



No comments:

Post a Comment