Further to the announcement made on 12 January
2015, and pursuant to Section 11(11)(b) of the Malaysian Code on Take-Overs and
Mergers 2010 (“Code”), the Board of Directors of MEGB (“Board”) (save
for Mr. Siva Kumar A/L M Jeyapalan who abstained from deliberation and voting
in view of his major shareholding interests in the issued securities of the
Company (“Interested Director”)) has deliberated on the Offer and decided not to
seek an alternative person to make a take-over offer for the Offer Shares.
Further, in accordance with Section 15(1) of the
Code, the Board (save for the Interested Director) has resolved to appoint BDO
Capital Consultants Sdn. Bhd. as the Independent Adviser to advise the
non-interested Directors and holders of the Offer Shares on the fairness and
reasonableness of the Offer.
Unless otherwise stated, the abbreviations and
definitions used throughout this announcement shall be the same as those
previously defined in the announcement.
This announcement is dated 14 January 2015.