Investors

Axiata strives to raise our shareholder value by striking a balance between
short-term profitability and long-term growth.

TM International Berhad ("TMI")
(i) Proposed Renounceable rights Issue of New Ordinary shares of RM1.00 Each in TMI ("TMI Shares") ("Rights Shares") to Raise Gross Proceeds of Approximately RM5,250 Million ("Proposed Rights Issue");
(ii) Proposed Exemption For Khazanah Nasional Berhad ("Khazanah") From the Obligation to Carry Out A Mandatory Take-over Offer On the Remaining Voting Shares in TMI Not Held By Khazanah After The proposed Rights Issue; and
(iii) Proposed Increase In tmi's Authorised Share Capital and Corresponding Amendments to TMI's Memorandum And Articles Of Association (Collectively Referred To As "Proposals")

Back 24 Mar 2009
General Announcement
Reference No MM-090324-29697

Submitting Merchant Bank
:
 CIMB INVESTMENT BANK BERHAD 
Company Name
:
 TM INTERNATIONAL BERHAD 
Stock Name
:
 TMI
Date Announced
:
 24/03/2009


Type
:
 Announcement
Subject
:
TM INTERNATIONAL BERHAD ("TMI")

(I) PROPOSED RENOUNCEABLE RIGHTS ISSUE OF NEW ORDINARY SHARES OF RM1.00 EACH IN TMI ("TMI SHARES") ("RIGHTS SHARES") TO RAISE GROSS PROCEEDS OF APPROXIMATELY RM5,250 MILLION ("PROPOSED RIGHTS ISSUE");

(II) PROPOSED EXEMPTION FOR KHAZANAH NASIONAL BERHAD ("KHAZANAH") FROM THE OBLIGATION TO CARRY OUT A MANDATORY TAKE-OVER OFFER ON THE REMAINING VOTING SHARES IN TMI NOT HELD BY KHAZANAH AFTER THE PROPOSED RIGHTS ISSUE; AND

(III) PROPOSED INCREASE IN TMI'S AUTHORISED SHARE CAPITAL AND CORRESPONDING AMENDMENTS TO TMI'S MEMORANDUM AND ARTICLES OF ASSOCIATION

(COLLECTIVELY REFERRED TO AS "PROPOSALS")

Contents
:
-

Announcement Details :


We refer to our announcement dated 26 February 2009 in relation to the Proposals. 

On behalf of TMI's Board of Directors, CIMB Investment Bank Berhad ("CIMB") wishes to announce that the issue price of the Rights Shares has been fixed at RM1.12 per Rights Share with an entitlement basis of 5 Rights Shares for every 4 existing TMI Shares held by the shareholders of TMI at a date to be determined and announced later. Accordingly, the Proposed Rights Issue will raise gross proceeds of approximately RM5,254.8 million and involve the issuance of approximately 4,691.8 million Rights Shares.

The issue price of RM1.12 per Rights Share represents a discount of 50.9% to the 5-day volume-weighted average market price up to 23 March 2009 of RM2.28 ("5-day VWAMP") and 31.7% to the theoretical ex-rights price of TMI Shares of RM1.64 (based on the 5-day VWAMP).

This announcement is dated 24 March 2009.

These materials are not an offer of securities for sale in or into the United States of America ("U.S."), Canada or Japan. The securities may not be offered or sold in the U.S. or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended) unless they are registered or exempt from registration. There will be no public offer of securities in the U.S..