We refer to the offer document dated 6 July 2020 which sets out the details, terms and conditions of the Offer (“Offer Document”). Unless otherwise stated, the terms used herein shall have the same meaning as defined in the Offer Document.  

The Board of MB World wishes to announce that it has on 24 August 2020 received a press notice from RHB Investment Bank, on behalf of the Joint Offerors, informing that the Offer has closed at 5:00 p.m. (Malaysian time) on Monday, 24 August 2020 (“Final Closing Date”). As at 5:00 p.m. (Malaysian time) on the Final Closing Date, the Joint Offerors have received valid acceptances in respect of the Offer Shares resulting in the Joint Offerors holding 154,219,647 MB World Shares, representing 97.99% of the total issued shares of MB World.

As mentioned in the press notice dated 24 July 2020 in relation to the Offer, the Joint Offerors collectively hold more than 90% of MB World Shares pursuant to the Offer and they do not intend to maintain the listing status of MB World on the Main Market of Bursa Securities. As such, Bursa Securities will suspend the trading of the securities of MB World commencing from Wednesday, 2 September 2020, being the expiry of five (5) Market Days from the Final Closing Date, in accordance with Paragraph 16.02(3) of the Listing Requirements. Thereafter, the Joint Offerors will procure MB World to take the requisite steps to withdraw its listing from the Official List in accordance with Paragraph 16.07 of the Listing Requirements.

In addition, as mentioned in the press notice dated 17 August 2020 in relation to the Offer, the Joint Offerors had on 17 August 2020 received valid acceptances of not less than nine-tenths (9/10) in the nominal value of the Offer Shares (excluding MB World Shares already held by the Joint Offerors on the date of the Offer) and will invoke the provisions of Section 222(1) of the CMSA, subject to Section 224 of the CMSA, to compulsorily acquire any remaining Offer Shares for which valid acceptances have not been received under the Offer. Accordingly, the Joint Offerors had on 21 August 2020 issued a notice in the form or manner specified by the SC under Section 222(1) of the CMSA to the Dissenting Holders, informing them of the Joint Offerors’ intention to compulsorily acquire their MB World Shares.

In accordance with Paragraph 13.01 of the Rules, the level of acceptances of the Offer as at 5:00 p.m. (Malaysian time) on the Final Closing Date is set out in the attached press notice.

This Announcement is dated 25 August 2020.