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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 6 May 2009 (which was received on 8 May 2009), in response to an application made by Talam, approved the proposed revision to the principal terms and conditions (“PTC”) of the RCSLS and Settlement BaIDS (“Proposed Revision”).
The SC’s approval for the Proposed Revision is subject to, inter-alia, the following conditions:-
(i) All relevant parties to the RCSLS and Settlement BaIDS including, but not limited to, trustee and rating agency, be fully informed of 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 and Talam to take the necessary steps to ensure compliance with Paragraph 4.1(iii) of the Guidelines on the Minimum Contents Requirements for Trust Deeds;
(iv) RHB Investment Bank and Talam to obtain all other regulatory approvals for the Proposed Revision, if any; and
(v) RHB Investment Bank to submit a written confirmation on compliance with the above upon implementation of the Proposed Revision.
The proposed revised terms of the RCSLS and Settlement BaIDS as approved by the SC are set out in Appendix I. Additionally, the details of the primary subscribers for the Settlement BaIDS pursuant to the revision of the PTC of the Settlement BaIDS are set out in Appendix II and III.
This announcement is dated 8 May 2009. |
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