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 July 2020 received a press notice from RHB Investment Bank, on behalf of the Joint Offerors, informing that as at 5:00 p.m. (Malaysian time) on Friday, 24 July 2020, the Joint Offerors have received valid acceptances in respect of the Offer Shares resulting in the Joint Offerors holding 144,967,291 MB World Shares, representing 92.11% of the total issued shares of MB World.

As the Joint Offerors collectively hold more than 90% of MB World Shares pursuant to the Offer and in view that the Joint Offerors do not intend to maintain the listing status of MB World on the Main Market of Bursa Securities, Bursa Securities will suspend the trading of the securities of MB World commencing from Tuesday, 18 August 2020, being the expiry of five (5) Market Days from the extended Closing Date i.e. Monday, 10 August 2020, 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, the press notice also states that the Joint Offerors have received valid acceptances resulting in the Joint Offerors holding not less than nine-tenths (9/10) in value of all the MB World Shares, and as such the Joint Offerors will issue a notice to the Dissenting Holders in the manner specified by the SC (“Notice”) to inform them that they may exercise their rights under Section 223(1) of the CMSA, by serving a notice on the Joint Offerors to require the Joint Offerors to acquire their Offer Shares on the same terms as set out in the Offer Document or such other terms as may be agreed between the Joint Offerors and the Dissenting Holders or as the court may, on an application made by such Dissenting Holder or by the Joint Offerors, think fit to order under Section 224(3) of the CMSA.

Accordingly, the Notice will be despatched to the Dissenting Holders within one (1) month from 24 July 2020, being the date the Joint Offerors have acquired not less than nine-tenths (9/10) in value of all the MB World Shares.

Please refer to the attached press notice for further details.

This Announcement is dated 24 July 2020.