Axiata strives to raise our shareholder value by striking a balance between
short-term profitability and long-term growth.
| Type | Announcement |
| Subject | OTHERS |
| Description | DIVESTMENT BY CELCOM AXIATA BERHAD OF ITS WHOLLY OWNED SUBSIDIARY, CELCOM CHILDCARE SDN BHD |
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1.0 INTRODUCTION
We are pleased to announce that Celcom Axiata Berhad (“Celcom”), a wholly owned subsidiary of Axiata Group Berhad (“Axiata”), had on 11 June 2013 entered into a Share Sale Agreement (“SSA”) with Early Impression Sdn Bhd (“Early Impression”) for the purpose of divestment of its entire stake in Celcom Childcare Sdn Bhd (“Celcom Childcare”). (Celcom and Early Impression are collectively referred to hereinafter as ”Parties”). 2.0 INFORMATION OF THE PARTIES
Celcom was incorporated in Malaysia on 5 January 1988. The issued and paid-up share capital of Celcom stands at RM1,237,534,681 comprising 1,237,534,681 ordinary shares of RM1.00 each. Currently the largest mobile broadband and corporate services provider, Celcom is now moving towards integrated multi-access and multimedia services, in line with evolving technologies and consumer behaviour in Malaysia. Early Impression, a private limited company, was incorporated in Malaysia on 3 January 1998 and is primarily involved in the business of operating a childcare service centre. 3.0 SALIENT TERMS OF THE SSA Under the SSA, Celcom will dispose its entire shareholding in Celcom Childcare comprising 25,000 ordinary shares of RM1.00 each for a cash consideration of RM200,000.00. The SSA is conditional upon Early Impression obtaining the necessary approvals, licence and/or permit from relevant authorities for Celcom Childcare to operate as a childcare service centre. 4.0 FINANCIAL EFFECTS The divestment by Celcom of Celcom Childcare does not have any effect on the issued and paid-up share capital of Axiata and is not expected to have any material effect on the earnings, gearings and net assets of Axiata Group for the financial year ending 31 December 2013. 5.0 APPROVALS OF SHAREHOLDERS AND AUTHORITIES
The divestment by Celcom of Celcom Childcare is not subject to the approval of the shareholders of Axiata. 6.0 DIRECTORS’ AND MAJOR/SUBSTANTIAL SHAREHOLDERS’ INTEREST None of the directors and major shareholders of Axiata and/or persons connected to them have any interest direct and/or indirect in the divestment by Celcom of Celcom Childcare to Early Impression. This announcement is dated 11 June 2013. |
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| Company Name | AXIATA GROUP BERHAD |
| Stock Name | AXIATA |
| Date Announced | 11 Jun 2013 |
| Category | General Announcement |
| Reference No | AG-130611-1ED02 |