Investors

(Unless otherwise stated, the definitions used herein shall have the same meanings as set out in the announcement dated 26 September 2013 in relation to the Proposed Acquisition. For purposes of this announcement, “IDR” refers to Indonesian Rupiah and “RM” refers to Ringgit Malaysia. Exchange rate used for conversion to RM is RM1:IDR3,654, based on the middle rate as at 12.00 p.m. on 4 February 2014 as published by Bank Negara Malaysia) 

We refer to the announcements dated 26 September 2013 and 2 December 2013 in relation to the Proposed Acquisition.

On behalf of the Board of Axiata, CIMB is pleased to announce that XL had on 5 February 2014 received the approval from its shareholders for the Proposed Acquisition and the merger plan of XL and Axis. 

In accordance to the requirements of the Law No 40 Year 2007 (Company Law of Indonesia), XL will be required to buy-back XL shares from any XL shareholder who disapproved the merger  plan at the Extraordinary General Meeting of Shareholders held on 5 February 2014. The buy-back price has been determined at IDR5,280 per XL share, being the higher of the average market price and the fair price determined by an appraiser.

Based on the maximum number of shareholders having disapproved the merger plan (holding approximately 237.2 million XL shares, representing 3.0% of the XL shares held by the shareholders present and voting) and assuming that all such shareholders elect to sell their XL shares, the maximum buy-back cost to XL would be approximately IDR1,252.6 billion (equivalent to approximately RM342.8 million). The buy-back amount would not materially affect the Axiata Group and would increase the percentage ratio for the Proposed Acquisition from 13.9% to 15.6%.

This announcement is dated 6 February 2014.