ARTICLE ENTITLED: "Mei: Allianz expected to make partial offer for remaining MBA shares"
|MALAYSIA BRITISH ASSURANCE BERHAD|
|Type||Reply to query|
|Reply to Query Letter by KLSE reference ID||PL-010207-32521|
"Mei: Allianz expected to make partial offer for remaining MBA shares"
Contents :The Board of Directors of Malaysia British Assurance Berhad ("MBA") refers to the query by the Kuala Lumpur Stock Exchange dated 7 February 2001 in respect of the above matter and wishes to state for public announcement the following:
1. "Since MBA's last announcement on 4 December 2000 pertaining to:
a. the rejection by the Securities Commission of the waiver sought by Allianz Aktiengesellschaft ("Allianz"), a substantial shareholder of MBA, from Allianz's obligation to undertake a mandatory general offer for all the remaining shares in MBA not already owned by Allianz after the proposed disposal by Exuniq Sdn. Bhd. ("Exuniq"), a major shareholder of MBA, of 16,906,666 ordinary shares of RM1.00 each in MBA to Allianz ("Proposed Disposal/Acquisiton"); and
b. the review by Allianz of the aforementioned rejection;
- the Board of Directors of MBA has:
i. neither been informed by Exuniq or Allianz of any further actions that they intend to take pertaining to the Proposed Disposal/Acquisition or the aforementioned rejection;
ii. nor discussed any matters in relation thereto.
MBA will keep the Exchange informed of any development when so notified by Exuniq or Allianz."
2. "The premium income figure of RM390 million for the financial year ending June 30, 2001 is a target which the management team of MBA has set out to achieve by June 30, 2001."
Query Letter Contents :
We refer to the above news article appearing in The Edge online, on Tuesday, 6
February 2001, a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined sentences
which are reproduced as follows:-
"Malaysian British Assurance Bhd is confident of seeing Allianz AG completing
its take over of the insurance company soon with the German insurer expected to
make a partial offer for MBA shares not owned by them."
"On MBA's performance, Mei said MBA was expected to register an improved
premium income of RM390 million for the financial year ending June 30, 2001."
In accordance with the Exchange's Corporate Disclosure Policy, you are
requested to furnish the Exchange with an announcement for public release
confirming or denying the above reported article and in particular the
underlined sentences after due and diligent enquiry with all the directors,
substantial shareholders and all such other persons reasonably familiar with
the matters about which the disclosure is to be made in this respect. In the
event you deny the above sentences or any other part of the above reported
article, you are required to set forth facts sufficient to clarify any
misleading aspects of the same. In the event you confirm the above sentences or
any other part of the above reported article, you are required to set forth
facts sufficient to support the same.
Please furnish the Exchange with your reply within one (1) market day from the
CHONG FUI TZY
Manager, Listing Operations
c.c. Securities Commission (via fax)
|Company Name||MALAYSIA BRITISH ASSURANCE BERHAD|
|Date Announced||8 Feb 2001|