Investor Relations

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Investor Relations

News

Proposed acquisition by Bursa Malaysia Berhad ("Bursa") of 25% equity interest in Bursa Malaysia Depository Sdn. Bhd. ("Bursa Depository") from ABM-MCD Holdings Sdn. Bhd. ("ABM-MCD") ("Proposed Acquisition")

BackNov 21, 2005
General Announcement
Reference No BM-051121-66998
Company Name : BURSA MALAYSIA BERHAD
Stock Name : BURSA
Date Announced : 21/11/2005


Type : Announcement
Subject : Proposed acquisition by Bursa Malaysia Berhad ("Bursa") of 25% equity interest in Bursa Malaysia Depository Sdn. Bhd. ("Bursa Depository") from ABM-MCD Holdings Sdn. Bhd. ("ABM-MCD") ("Proposed Acquisition")

Contents :
We are pleased to announce that Bursa's Board of Directors had on 21 November 2005 agreed to accept an offer by ABM-MCD to sell to Bursa 6,250,000 ordinary shares of RM1.00 each representing 25% equity interest in Bursa Depository, for a total cash consideration of RM35.625 million or RM5.70 per share. Bursa plans to finance the Proposed Acquisition through its internally generated funds.

Bursa will commence negotiations on the other terms of the transaction, prior to entering into a Share Purchase Agreement ("SPA") to acquire 6,250,000 ordinary shares of RM1.00 each in Bursa Depository from ABM-MCD. The Proposed Acquisition is also subject to the approval of the Foreign Investment Committee. Full details on the Proposed Acquisition will be announced upon the execution of the SPA.
Bursa Depository was incorporated in Malaysia under the Companies Act, 1965 on 26 October 1987 as a private limited company under the name of KLSE Corporate Services Sdn. Bhd. It changed its name to Malaysian Central Depository Sdn. Bhd. on 14 April 1990, and subsequently changed to its present name on 28 May 2004. The principal activity is to provide, operate and maintain a central depository for securities listed on the securities exchange. Bursa Depository commenced its business on 23 October 1992.

Bursa Depository has an authorized share capital of RM50,000,000 divided into 50,000,000 ordinary shares of RM1.00 each, of which 25,000,000 ordinary shares of RM1.00 each have been issued and fully paid-up.

As at the date hereof, Bursa Depository is 75% held by Bursa. The remaining 25% is held by ABM-MCD. Upon completion of the Proposed Acquisition, Bursa Depository will become a wholly-owned subsidiary of Bursa.

The Proposed Acquisition is expected to enhance earnings of Bursa Group and will facilitate a more efficient execution of group strategy towards enhancing growth potential and business efficiency. As the Proposed Acquisition is expected to be completed in the first quarter of 2006, there will be no effect on the earnings of Bursa for the financial year ending 31 December 2005.

This announcement is dated 21 November 2005.