acquisitions of securities in berjaya corporation berhad - Bursa Malaysia

BERJAYA ASSETS BERHAD ACQUISITIONS OF SECURITIES IN BERJAYA SPORTS TOTO BERHAD The Board of Directors of Berjaya Assets Berhad (“BAssets”) is pleased to announce that its wholly-owned subsidiary, Sublime Cartel Sdn Bhd (“Sublime”) had acquired a total of 6.49 million ordinary shares (“BToto Shares”) in Berjaya Sports Toto Berhad (“BToto”) in the open market during the period from 13 June 2017 to 1 August 2017 for a total cash consideration of about RM15.25 million (“Acquisitions”). Following the Acquisitions, BAssets Group now holds a total of about 7,500,000 BToto Shares representing 0.56% equity interest in BToto. The cash consideration of the Acquisitions was at prevailing market prices of BToto Shares at the time of acquisitions. The BToto shares were acquired free and clear of all liens, charges and claims of any kind or restriction. The Acquisitions represent an opportunity for the BAssets Group to invest in BToto. The Acquisitions have no effect on the issued and paid-up share capital or major shareholders’ shareholdings of BAssets. The Acquisitions are not expected to have any material effect on the consolidated net assets and earnings of BAssets for the current financial year ending 30 June 2018. The Acquisitions are not subject to the approval of the shareholders of BAssets or any other relevant authority. Berjaya Corporation Berhad (“BCorporation”) and Berjaya Land Berhad (“BLand”) are major shareholders of BToto. Tan Sri Dato’ Seri Vincent Tan Chee Yioun (“TSVT”) is a major shareholder of BAssets, BCorporation, BLand and BToto. Ms. Chryseis Tan Sheik Ling (“CTSL”) and Mr. Morvin Tan U-Jiang (“MTUJ”) are Executive Directors of BAssets and children of TSVT. CTSL and MTUJ, being interested Directors, have abstained from all Board deliberation and voting in relation to the Acquisitions. Save as disclosed, none of the other Directors and/or other major shareholders of BAssets or persons connected with them has any interest, direct or indirect, in the Acquisitions. The Board of Directors of BAssets (except for CTSL and MTUJ) is of the opinion that the Acquisitions are in the best interest of the BAssets Group. The Audit and Risk Management Committee of BAssets is of the opinion that the Acquisitions are fair, reasonable and on normal commercial terms and are in the best interest of BAssets Group. In addition, the Audit and Risk Management Committee of BAssets is also of the view that the Acquisitions are not detrimental to the rights of the minority shareholders of BAssets. The highest percentage ratio applicable to the Acquisitions pursuant to paragraph 10.02(g) of the Bursa Malaysia Securities Berhad’s Main Market Listing Requirements is 0.70%. This Announcement is dated 2 August 2017.