We refer to the announcements dated 30 April 2014 and 25 August 2014 in
relation to the Proposals. Unless otherwise stated, words and phrases used in
this announcement shall have the same meanings as defined in the aforesaid
announcements.
On behalf of the Company, HLIB is pleased to announce that Bursa
Securities had, vide its letter dated 15 October 2014, resolved to approve the
following:
- admission of up to RM209,708,604
nominal value of five (5)-year 5% RCULS on the basis of RM1.00 nominal value of
RCULS for every two (2) existing ordinary shares of RM1.00 each held in SSB on an
entitlement date to be determined later;
- listing of and quotation for up to
RM209,708,604 nominal value of RCULS to be issued pursuant to the Proposed
Rights Issue of RCULS on the Main Market of Bursa Securities; and
- listing of and quotation for up to
209,708,604 new SSB Shares to be issued pursuant to the conversion of the RCULS
on the Main Market of Bursa Securities.
The approval of Bursa Securities for the above is subject to the following conditions:
- SSB and HLIB must fully comply with the
relevant provisions under the Main Market Listing Requirements of Bursa
Securities pertaining to the implementation of the Proposed Rights Issue of
RCULS;
- SSB and HLIB to inform Bursa Securities
upon the completion of the Proposed Rights Issue of RCULS;
- SSB to furnish Bursa Securities with a
written confirmation of its compliance with the terms and conditions of Bursa
Securities approval once the Proposed Rights Issue of RCULS is completed;
- SSB to furnish Bursa Securities with a
certified true copy of the resolution passed by shareholders at extraordinary
general meeting for the Proposed Rights Issue of RCULS;
- Payment of additional listing fees. In
this respect, SSB is required to furnish Bursa Securities on a quarterly basis
a summary of the total number of SSB Shares listed pursuant to the conversion
of RCULS as at the end of each quarter together with a detailed computation of
listing fees payable;
- SSB to obtain the SCs approval for the
issuance of the RCULS and to furnish Bursa Securities with a copy of the
approval letter from the Private Debt Securities Department of the SC on the
issuance of the RCULS; and
- SSB to have measures to ensure that the
non-compliance with public shareholding spread is not aggravated by its major
shareholders.
This announcement is
dated 15 October 2014.