MRCB - Home

We refer to the previous announcements made by RHB Investment Bank on behalf of the Board in relation to the Proposals. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said announcements in relation to the Proposals.

On 22 August 2013, RHB Investment Bank had, on behalf of the Board, announced inter-alia that the completion of the Acquisition of 70% of P.J Sentral would be deferred until after the resolution of the Legal Proceedings. On 20 June 2014, RHB Investment Bank had announced, on behalf of the Board, that the Company together with NGD had on the same date, entered into a settlement agreement with PKNS to resolve all disputes, conflicts, differences, claims and complaints against each other arising directly or indirectly from the NGD SSA, the Legal Proceedings and all ancillary issues in connection therewith. On 23 June 2014, the Company had announced that PKNS had on 20 June 2013 filed Notices of Discontinuance in respect of the Appeals without liberty to file afresh, signifying the settlement of the entire dispute brought before the Court of Appeal between MRCB, NGD and PKNS.

In view of the above, the Board has decided to proceed with the completion of the Acquisition of 70% of P.J Sentral in accordance with the terms and conditions of the NGD SSA (as amended and varied by the Supplemental NGD SSA and the NGD Letter).

On behalf of the Board, RHB Investment Bank wishes to announce that the Company have allotted the Consideration Shares and Consideration Warrants to the parties as nominated by NGD, and paid the balance Cash Consideration in respect of the Acquisition of 70% of P.J Sentral, on 23 June 2014 and 24 June 2014 respectively, in the manner as set out in Appendix I of this Announcement. The allotment of the Consideration Shares and Consideration Warrants and payment of the balance Cash Consideration as set out above marks the completion of the Acquisition of 70% of P.J Sentral.


This announcement is dated 24 June 2014.