General Announcement
21/10/2003PROPOSED ACQUISITION OF FOREIGN SUBSIDIARY BY CIMB (L) LIMITED
CIMB BERHAD |
Type | Announcement |
Subject | PROPOSED ACQUISITION OF FOREIGN SUBSIDIARY BY CIMB (L) LIMITED |
Contents :
- 1. INTRODUCTION
We refer to the announcement made by CIMB Berhad ("CIMB" or "the Company") on 2 October 2003 in relation to the proposed acquisition by CIMB (L) Limited ("CIMB Labuan") of 51% of the equity interest of P.T. Niaga Sekuritas of Indonesia ("Niaga Sekuritas") ("the Proposed Acquisition").
2. SIGNING OF AGREEMENTS
CIMB wishes to announce that CIMB Labuan had on 21 October 2003 entered into the following agreements for the Proposed Acquisition:
(i) Share Sale and Purchase Agreement ("SPA") with PT Niaga Manajemen Citra ("Niaga Manajemen") for the acquisition of 1% of the equity of Niaga Sekuritas held by Niaga Manajemen, comprising 179,000 ordinary shares of Rupiah 1,000 each for a total cash consideration of Rupiah 201,017,000 or Rupiah 1,123 per existing ordinary share.
(ii) Share Subscription Agreement ("SSA") with Niaga Sekuritas for the subscription of 18,266,000 new ordinary shares of Rupiah 1,000 each to be issued in Niaga Sekuritas at an issue price of Rupiah 1,123 a share.
(iii) Joint-Venture Agreement ("JVA") with PT Bank Niaga Tbk and Niaga Sekuritas to regulate the terms of their relationship as shareholders of Niaga Sekuritas and the manner in which affairs of Niaga Sekuritas shall be managed.
3. DOCUMENTS FOR INSPECTION
The SPA, SSA and JVA may be inspected at the registered office of CIMB at 7th Floor, Bangunan CIMB, Jalan Semantan, Damansara Heights, 50490 Kuala Lumpur from 9.00 a.m. to 5.00 p.m. on any working day for a period of 3 months from the date of this announcement.
This announcement is dated 21 October 2003.
Announcement Info
Company Name | CIMB BERHAD |
Stock Name | CIMB |
Date Announced | 21 Oct 2003 |
Category | General Announcement |
Reference No | CC-031021-64581 |
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