MBFHLDG

1.700

(%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS MBf HOLDINGS BERHAD (“MBfH” OR “COMPANY”) PROPOSED DISPOSAL BY MBfH AND ITS WHOLLY-OWNED SUBSIDIARIES, ATOX CARDS SDN BHD AND JASTURA SDN BHD OF 5,265,000 ORDINARY SHARES OF RM1.00 EACH IN MBF CARDS (M’SIA) SDN BHD (“MBF CARDS”), REPRESENTING THE ENTIRE ISSUED AND PAID-UP SHARE CAPITAL OF MBF CARDS, FOR A TOTAL CASH CONSIDERATION OF RM623.40 MILLION (“PROPOSED DISPOSAL”)

MBF HOLDINGS BERHAD

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	MBf HOLDINGS BERHAD (“MBfH” OR “COMPANY”) PROPOSED DISPOSAL BY MBfH AND ITS WHOLLY-OWNED SUBSIDIARIES, ATOX CARDS SDN BHD AND JASTURA SDN BHD OF 5,265,000 ORDINARY SHARES OF RM1.00 EACH IN MBF CARDS (M’SIA) SDN BHD (“MBF CARDS”), REPRESENTING THE ENTIRE ISSUED AND PAID-UP SHARE CAPITAL OF MBF CARDS, FOR A TOTAL CASH CONSIDERATION OF RM623.40 MILLION (“PROPOSED DISPOSAL”)
(Unless otherwise stated, definitions used in this announcement shall carry the same meaning as defined in MBfH’s announcement dated 10 July 2012) We refer to the Company's announcements dated 10 July 2012, 13 July 2012, 18 July 2012, 8 August 2012, 29 August 2012 and 14 September 2012 in relation to the Proposed Disposal. On behalf of the Board of Directors of MBfH, Maybank Investment Bank Berhad is pleased to announce that the Proposed Disposal has been completed today following the fulfillment of all the conditions precedent stipulated in the SSA. For information, in addition to the deposit of 10% of the Sale Consideration (amounting to RM62.34 million) which was paid on 10 July 2012 to the solicitors of the Vendors upon signing of the SSA, AMMB Holdings Berhad (“AMMB”) has today settled the remaining 90% (amounting to RM561.06 million) of the Sale Consideration in accordance with the terms of the SSA, which includes 10% of the Sale Consideration being forwarded to and held by Maybank Trustees Berhad (formerly known as Mayban Trustees Berhad) (“Escrow Agent”) as the Retained Sum. The Retained Sum shall be refunded to AMMB or released to the Vendors by the Escrow Agent subject to any adjustment to the Sale Consideration (“Sale Consideration Adjustment”) after the conclusion of the review of the Completion NAV of MBF Cards by the auditors appointed by AMMB and the Vendors for the purpose of determining the Sale Consideration Adjustment. The Sale Consideration Adjustment, if any, will be announced in due course. This announcement is dated 3 December 2012.

Announcement Info

Company Name	MBF HOLDINGS BERHAD
Stock Name	MBFHLDG
Date Announced	3 Dec 2012
Category	General Announcement
Reference No	MI-121203-61316

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