Bursa Announcements

Date : 22 April 2015

OTHERS ADJUSTMENT TO THE REFERENCE PRICE OF ORDINARY SHARES IN SUNWAY BERHAD PURSUANT TO THE DISTRIBUTION OF ORDINARY SHARES IN SUNWAY CONSTRUCTION GROUP BERHAD TO THE ENTITLED SHAREHOLDERS AS AT 5.00 P.M. ON 8 MAY 2015 ("DISTRIBUTION")

SUNWAY BERHAD

Type Announcement
Subject OTHERS
Description
ADJUSTMENT TO THE REFERENCE PRICE OF ORDINARY SHARES IN SUNWAY BERHAD PURSUANT TO THE DISTRIBUTION OF ORDINARY SHARES IN SUNWAY CONSTRUCTION GROUP BERHAD TO THE ENTITLED SHAREHOLDERS AS AT 5.00 P.M. ON 8 MAY 2015 ("DISTRIBUTION")

This announcement is not an offer to sell or a solicitation of any offer to buy the securities of Sunway Construction Group Berhad (“Securities”) in the United States of America (“United States”), Australia, Canada, Japan or in any other jurisdiction where such offer or sale would be unlawful.

The Securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (“Securities Act”), or the laws of any state of the United States. Consequently, the Securities are being offered and sold only outside the United States in offshore transactions pursuant to Regulation S under the Securities Act.

(Unless stated otherwise, all expressions used in this announcement shall carry the same meanings as defined in the announcements dated 19 September 2014, 12 November 2014, 18 November 2014, 19 November 2014, 20 November 2014, 18 December 2014, 4 February 2015, 9 February 2015, 6 March 2015, 2 April 2015, 6 April 2015, 8 April 2015 and 20 April 2015 in relation to the Listing.)

The reference price of the Sunway Shares will be adjusted for the Distribution on 6 May 2015, being the ex-date of the Entitlement Date.

The computation for the adjustment to the reference price of the Sunway Shares is as follows:

“Sunway Share price - Value of the Distribution attributable to one (1) Sunway Share”

The indicative offer price for the SCG Share of RM1.10 had been determined as the basis to compute the value of the Distribution as the actual offer price for the SCG Share could only be determined at the price determination date following the completion of the bookbuilding exercise.

The indicative offer price of RM1.10 represents price-earnings multiple of 12.5 times based on the audited core profit after taxation of SCG Group for the financial year ended (“FYE”) 31 December 2014 and such price-earnings multiple is within the range and below the median of price-earnings multiple of the peers of SCG in the construction industry for the FYE 2014 of between 9.7 times and 24.6 times, and 14.8 times respectively.

However, there is no assurance that the actual offer price for the SCG Share will not deviate from the indicative offer price for the SCG Share of RM1.10.

For illustrative purposes, based on the indicative offer price of RM1.10 and the closing price of Sunway Shares on 21 April 2015 of RM3.74, being the market day immediately preceding the date of the announcement of the Entitlement Date, the reference price of the Sunway Shares shall be adjusted from RM3.74 to RM3.63.

This announcement is dated 22 April 2015.






Announcement Info

Company Name SUNWAY BERHAD
Stock Name SUNWAY
Date Announced 22 Apr 2015
Category General Announcement for PLC
Reference Number GA1-21042015-00126


Back