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We refer to the announcement dated 2 May 2008 whereby it was announced that the Securities Commission (“SC”) had approved the Proposed Revised Regularisation Plan subject to, inter-alia, the condition that RHB Investment Bank Berhad (“RHB Investment Bank”) and Talam are to obtain the SC's prior approval should there be any changes to the terms and conditions of the redeemable convertible secured loan stocks (“RCSLS”) and Al-Bai Bithaman Ajil Islamic Debt Securities (“Settlement BaIDS”).
On behalf of Talam, RHB Investment Bank wishes to announce that the SC had, vide its letter dated 5 September 2008 (which was received on 9 September 2008), in response to an application made by Talam, approved the proposed revision to the principal terms and conditions (“PTC”) of up to RM17,924,581 zero coupon nominal value RCSLS–B to be issued to EON Bank Berhad and selected investors to facilitate the listing of the RCSLS-B on the Main Board of Bursa Malaysia Securities Berhad as detailed in Table 1. (“Proposed Revision”).
The SC’s approval is subject to the following conditions:-
(i) RHB Investment Bank to inform all relevant parties in relation to Talam’s Proposed Revised Regularisation Plan including, but not limited to, the trustee and credit rating agency, about the Proposed Revision, and where applicable, obtain their consents thereto;
(ii) RHB Investment Bank and Talam have undertaken all necessary due diligence in relation to the Proposed Revision;
(iii) RHB Investment Bank to ensure that all other regulatory approvals, if required, for the Proposed Revision have been obtained; and
(iv) RHB Investment Bank to submit a written confirmation on compliance with all the above conditions.
This announcement is dated 11 September 2008. |
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