(I) PROPOSED AUTHORITY FOR AXIATA GROUP BERHAD (“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 24.1 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 announcements dated 11 April 2011 and 1 June 2011 in relation to, amongst others, the Proposals.
On behalf of the Board of Directors of Axiata, CIMB Investment Bank Berhad is pleased to announce that the Securities Commission has, through its letter dated 17 June 2011, approved the Proposed Exemption. Accordingly, the Proposals have become unconditional.
