REGENT WISE INVESTMENTS LIMITED ("RWIL") ("OFFEROR")

SIGNING OF CONDITIONAL SHARE PURCHASE AGREEMENT BETWEEN RWIL AND TAN SRI DATO' SRI GOH MING CHOON FOR THE ACQUISITION OF 230,115,574 ORDINARY SHARES IN MCT BERHAD ("MCT" OR THE "COMPANY"), REPRESENTING APPROXIMATELY 17.24% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF MCT

KUALA LUMPUR, Jan 2 (Bernama) -- 

On behalf of the Offeror, we are pleased to inform that RWIL had today duly served a letter of notification ("Letter") to notify the Board of Directors of MCT that it had on 2 January 2018, entered into a conditional share purchase agreement ("SPA") with Tan Sri Dato' Sri Goh Ming Choon ("Vendor") to acquire 230,115,574 ordinary shares in the Company ("Shares"), for a total cash consideration of RM202,501,705.12 ("Cash Consideration"), which is equivalent to RM0.88 per Share ("Proposed Acquisition"). Upon completion of the Proposed Acquisition, RWIL will become the new controlling shareholder of the Company, with a 50.19% equity interest in the Company.

RWIL is a wholly-owned subsidiary of Ayala Land, Inc. ("ALI"), which is a public listed company on The Philippine Stock Exchange with a market capitalisation of approximately USD13.2 billion (approximately RM53.4 billion) as of 29 December 2017. The principal activities of ALI and its subsidiaries are that of engaging in the planning and development of integrated estates with a mix of use such as residential lots and buildings, office buildings and commercial and industrial lots, as well as leasing of commercial and office spaces and the development, operation and management of hotels and resorts. ALI also develops commercial and industrial parks and also engages in property management and construction.

Upon fulfilment of the condition precedent under the SPA, RWIL will be obliged to extend a mandatory take-over offer to acquire all remaining MCT Shares which are not already held by RWIL and person(s) acting in concert with it pursuant to Section 218(2) of the Capital Markets and Services Act 2007 ("CMSA") and subparagraph 4.01(a) of the Rules on Take-Overs, Mergers and Compulsory Acquisitions ("Rules") for a cash consideration of RM0.88 per Share. The condition precedent involves obtaining a waiver from Bursa Malaysia Securities Clearing Sdn Bhd to allow for approximately 51% of the Cash Consideration to be settled in tranches to the Vendor.

A copy of the Letter is enclosed.

Click here for MCT Berhad - Press Release

Yours faithfully
for CIMB Investment Bank Berhad