Unless the context otherwise requires, the defined terms used herein are the same as those defined in the offer document in relation to the Offer dated 20 February 2018 (“Offer Document”).

We refer to the Offer Document and the announcements dated 11 December 2017, 26 December 2017, 30 January 2018, 26 February 2018, 9 March 2018, 13 March 2018 and 20 March 2018 in relation to the Offer. 

The Board of Directors of OldTown wishes to announce that the Company has today received the attached press notice from CIMB, on behalf of the Offeror informing that the Offeror will on 4 April 2018 post the notice of compulsory acquisition (“Compulsory Acquisition Notice”) to dissenting shareholders of OldTown (whose names appear on the record of depositors of OldTown as at 5.00 p.m. (Malaysian time) on 2 April 2018 (“Dissenting Shareholders”)) in accordance with Section 222(1) of the Capital Markets and Services Act, 2007, (“CMSA”), notifying them of the Offeror’s intention to compulsorily acquire all the Offer Shares held by the Dissenting Shareholders.

Subject to the provisions of the CMSA, the Offeror shall be registered as the holder of all the remaining Offer Shares not already owned by the Offeror:

(i) after the expiration of one (1) month from the date of the Compulsory Acquisition Notice; or

(ii) if applicable, after fourteen (14) days from the date of the statement of the names and addresses of all other dissenting shareholders, as shown in the register of members and/or record of depositors, is posted to the dissenting shareholder, upon his/her request;

whichever is the later.

The compulsory acquisition exercise will be on the same terms and conditions as set out in the Offer Document or such other terms as the High Court thinks fit, on application made to it by the Dissenting Shareholders or the Offeror.

The Offer has closed at 5.00 p.m. (Malaysian time) on 20 March 2018. In addition, OldTown has on 21 March 2018 submitted an application to Bursa Malaysia Securities Berhad (“Bursa Securities”) for the withdrawal of its listing status from the official list of Bursa Securities in accordance with Paragraph 16.07 of the Main Market Listing Requirements of Bursa Securities.

As announced by OldTown on 30 March 2018, the entire issued shares of OldTown will be delisted from the official list of Bursa Securities with effect from 9.00 a.m., Wednesday, 4 April 2018.

Please refer to the attachments for further details.

This announcement is dated 3 April 2018.