| Pursuant to Paragraph 3.4 of Practice Note 19 of the Bursa Securities Main Market Listing Requirements (“Main LR”), the Company wishes to announce that as per the Record of Depositors as at 30 April 2009, the public shareholding spread of PacificMas would be 16.47%. |
| Following the acceptances received by OCBC Capital (Malaysia) Sdn Bhd ("OCSB") in its take-over offer to acquire all the voting shares in PacificMas not already owned by OCSB, PacificMas could not comply with the public shareholding spread requirement pursuant to Paragraph 8.02(1) of the Main LR whereby a listed company must ensure that at least 25% of its total listed shares are in the hands of public shareholders ("Public Shareholding Spread Requirement"). |
| On 13 March 2009, PacificMas submitted an application to Bursa Securities for a further extension of time of six (6) months from 26 March 2009 until 25 September 2009 to comply with the Public Shareholding Spread Requirement. |
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On 24 March 2009, Bursa Securities granted PacificMas a further extension of time for a period of only three (3) months until 25 June 2009 to comply with the Public Shareholding Spread Requirement. |
| PacificMas wishes to inform that OCSB is currently in negotiations with interested parties to sell down OCSB's shareholding in PacificMas to comply with the Public Shareholding Spread Requirement. |
| Further details will be announced in due course. |
| This announcement is dated 21 May 2009. |
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