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Reference No: MM-040928-52668 |
| Submitting Merchant Bank |
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AMMERCHANT BANK BERHAD |
| Company
Name |
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PACIFICMAS BERHAD |
| Stock
Name |
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PACMAS |
| Date
Announced |
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28-09-2004 |
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| Type |
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Announcement |
| Subject |
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PACIFICMAS BERHAD ("PACIFICMAS") |
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- PROPOSED ACQUISITION OF 27,100,000 ORDINARY SHARES OF RM1.00 EACH ("SHARES") REPRESENTING 51.13% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF MALAYSIA & NIPPON INSURANS BERHAD ("MNIB") FROM KOPERASI ANGKATAN TENTERA MALAYSIA BERHAD ("KAT") FOR A PURCHASE CONSIDERATION TO BE SATISFIED BY CASH ("PROPOSED ACQUISITION") |
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- PROPOSED ACQUISITION OF THE REMAINING 25,900,000 SHARES REPRESENTING 48.87% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF MNIB NOT ALREADY HELD BY PACIFICMAS UPON COMPLETION OF THE PROPOSED ACQUISITION VIA A MANDATORY OFFER ('PROPOSED MANDATORY OFFER") |
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(COLLECTIVELY REFERRED TO AS THE "PROPOSALS") |
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| We refer to the announcements made on behalf of PacificMas on 11 May 2004, 21 July 2004, 12 August 2004, 18 August 2004, 20 August 2004 and 23 August 2004 in relation to the Proposals. |
| On behalf of PacificMas, AmMerchant Bank Berhad is pleased to announce that on 28 September 2004, the High Court of Malaya has confirmed the scheme of transfer of the general insurance business of MNIB to The Pacific Insurance Berhad, a wholly-owned subsidiary of PacificMas, with effect from 1 October 2004, in terms of the petition filed in relation thereto, pursuant to Sections 128(1) and 133 of the Insurance Act, 1996. |
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| This announcement is dated 28 September 2004. |
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