General Announcement

23/03/2004

CIMB BERHAD (CIMBB) ACQUISITION BY CIMBB OF THE ENTIRE EQUITY INTEREST IN BOTLY SECURITIES SDN BHD FROM TA ENTERPRISE BERHAD (TAE) FOR A TOTAL PURCHASE CONSIDERATION OF RM400 MILLION TO BE SATISFIED BY THE ISSUANCE OF 80,000,000 NEW ORDINARY SHARES OF RM1.00 EACH IN CIMBB (CONSIDERATION SHARES) AT AN ISSUE PRICE OF RM5.00 PER CIMBB SHARE (ACQUISITION)

CIMB BERHAD

Type

Announcement
SubjectCIMB BERHAD (CIMBB)

ACQUISITION BY CIMBB OF THE ENTIRE EQUITY INTEREST IN BOTLY SECURITIES SDN BHD FROM TA ENTERPRISE BERHAD (TAE) FOR A TOTAL PURCHASE CONSIDERATION OF RM400 MILLION TO BE SATISFIED BY THE ISSUANCE OF 80,000,000 NEW ORDINARY SHARES OF RM1.00 EACH IN CIMBB (CONSIDERATION SHARES) AT AN ISSUE PRICE OF RM5.00 PER CIMBB SHARE (ACQUISITION)

Contents :

We refer to our announcements dated 13 February 2004, 27 February 2004 and 19 March 2004 in respect of the above-caption.


We regret to inform that CIMBB is unable to conclude negotiations to enable the signing of a sale and purchase agreement in regards to the Acquisition. CIMBB is of the view that the issues brought up by TAE are inconsistent with the terms and conditions of the Memorandum of Agreement (MOA).

Based on the MOA, TAE will be bound by a 6-month moratorium from 13 February 2004 on the sale of their stock-broking businesses and their shares in their stock-broking companies. This does not pre-clude CIMBB and TAE from re-negotiating the transaction during this period.

This announcement is dated 23 March 2004.


Announcement Info

Company NameCIMB BERHAD  
Stock Name CIMB
Date Announced23 Mar 2004  
CategoryGeneral Announcement
Reference NoMM-040323-60293

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