(I) PROPOSED AUTHORITY FOR AXIATA TO PURCHASE ITS OWN SHARES OF UP TO 10% OF ITS ISSUED AND PAID-UP SHARE CAPITAL (“PROPOSED SHARE BUY-BACK”); AND
(II) PROPOSED EXEMPTION UNDER PARAGRAPH 24 OF PRACTICE NOTE 9 OF THE MALAYSIAN CODE ON TAKE-OVERS AND MERGERS, 2010 FOR KHAZANAH NASIONAL BERHAD FROM THE OBLIGATION TO UNDERTAKE A MANDATORY TAKE-OVER OFFER ON THE REMAINING SHARES IN AXIATA NOT ALREADY OWNED BY IT, UPON THE PURCHASE BY AXIATA OF ITS OWN SHARES PURSUANT TO THE PROPOSED SHARE BUY-BACK (“PROPOSED EXEMPTION”)
(COLLECTIVELY THE “PROPOSALS”)
Announcement Details/Table Section :
We refer to the announcement dated 11 April 2011 and Part B and C of the Circular to shareholders dated 10 May 2011, both in relation to the Proposals. We wish to announce that the Independent Advice Circular from Public Investment Bank Berhad in relation to the Proposed Exemption has been despatched to Axiata’s shareholders today. This announcement is dated 13 May 2011.
