Offer for Sale

Amended Announcements
Please refer to the earlier announcement reference number: MI-120723-63066



Entitlement date13/08/2012
Entitlement time05:00:00 PM
Entitlement subjectOffer for Sale
Entitlement descriptionRestricted offer for sale by E-Cap (Internal) One Sdn Bhd (“E-Cap”) of up to 177,864,424 Islamic redeemable convertible preference shares of RM1.00 each in Kota Bayu Ekuiti Berhad (“Offer RCPS-i”) at an offer price of RM1.00 per Offer RCPS-i on a non-renounceable basis to the shareholders of Tanjung Offshore Berhad (“Tanjung”), other than E-Cap and/or its affiliates on the basis of 75 Offer RCPS-i for every 100 ordinary shares of RM0.50 each held in Tanjung (“Tanjung Shares”) at 5.00 p.m. on 13 August 2012 (“Entitlement Date”) (“Entitled Shareholders”) (“Offer for Sale”)
Period of interest payment to
Financial Year End
Share transfer book & register of members will be to closed from (both dates inclusive) for the purpose of determining the entitlements
Registrar's name ,address, telephone noSymphony Share Registrars Sdn Bhd
Level 6, Symphony House
Pusat Dagangan Dana 1
Jalan PJU 1A/46
47301 Petaling Jaya
Selangor Darul Ehsan
Telephone no.: 03 7849 0777
Payment date
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers13/08/2012 
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit 
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable) 
Entitlement indicatorRatio
Ratio 75 : 100
Rights Issues/Offer Price 1

Remarks :
(Unless otherwise stated, terms used herein shall have the same meaning as defined in the announcement dated 23 July 2012 in relation to the Offer for Sale)

The final basis of the Offer for Sale has been determined after taking into consideration the issued and paid-up share capital of Tanjung of 290,143,140 Tanjung Shares (excluding 2,477,500 treasury shares) as at 1 August 2012 and the 687,310 new Tanjung Shares which have been allotted but pending crediting into the securities accounts of holders of the Convertible Securities on or before the Entitlement Date pursuant to the exercise of the Convertible Securities by such holders on or prior to 1 August 2012.

The tax-exempt special dividend of RM0.44 per Tanjung Share (“Special Dividend”) as declared by Tanjung on 3 August 2012 can be utilised by the Entitled Shareholders to acquire 58⅔% of their respective entitlement to the Offer RCPS-i (“Basic Entitlement”). If the Entitled Shareholders choose to acquire the Offer RCPS-i, the Entitled Shareholders would need to notify Tanjung, by completing, signing and returning the offer acceptance form accompanying the prospectus (“OAF”) in respect of the Offer for Sale to be jointly issued by E-Cap and KBE and thereby instructing Tanjung to remit the relevant amount of the Special Dividend they are entitled to, directly to E-Cap as full payment for the acquisition of their Basic Entitlement, and any balance due to fractional entitlement will be paid to the Entitled Shareholders in cash.

In the event the Entitled Shareholders wish to acquire their full entitlement to the Offer RCPS-i (“Full Entitlement”), the Entitled Shareholders would need to complete, sign and return the OAF and also remit the remaining amount payable by them (“Top-up Amount”) to E-Cap to acquire the remaining 41⅓% of the Entitled Shareholders’ entitlement to the Offer RCPS-i (“Top-up Entitlement”).

Full Entitlement = Basic Entitlement + Top-up Entitlement

For the avoidance of doubt, shareholders who choose to participate in the Offer for Sale will not be receiving the full amount of the Special Dividend from Tanjung as the monies will be remitted directly to E-Cap as payment for the RCPS-i. In the event of any balance arising from fractional entitlement, such balance will be paid to the Entitled Shareholders in cash.

This announcement is dated 3 August 2012.

Announcement Info

Stock Name TGOFFS    
Date Announced3 Aug 2012  
CategoryEntitlements (Notice of Book Closure)
Reference NoMI-120803-62751

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