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Proposed Disposal Of 100% Equity Interest in TM Cellular Sdn Bhd ("TM Cellular") To Celcom (Malaysia) Berhad ("Celcom") For A Total Consideration Of RM1,684 Million To Be Satisfied By The Issuance Of 635,471,698 New Ordinary Shares Of RM1.00 Each In Celcom At RM2.65 Per Share ("Proposed Disposal") Mandatory General Offer By Telekom Enterprise Sdn Bhd ("TESB") And The Persons Acting In Concert With TESB ("PAC") For The Remaining Ordinary Shares Of RM1.00 Each In Celcom Not Held By TESB And the PAC After The Proposed Disposal At RM2.75 Per Share ("MGO")

17 April 2003

Type

 Announcement
Subject TELEKOM MALAYSIA BERHAD (“TM” OR “COMPANY”)

PROPOSED DISPOSAL OF 100% EQUITY INTEREST IN TM CELLULAR SDN BHD (“TM CELLULAR”) TO CELCOM (MALAYSIA) BERHAD (“CELCOM”) FOR A TOTAL CONSIDERATION OF RM1,684 MILLION TO BE SATISFIED BY THE ISSUANCE OF 635,471,698 NEW ORDINARY SHARES OF RM1.00 EACH IN CELCOM AT RM2.65 PER SHARE (“PROPOSED DISPOSAL”)

MANDATORY GENERAL OFFER BY TELEKOM ENTERPRISE SDN BHD (“TESB”) AND THE PERSONS ACTING IN CONCERT WITH TESB (“PAC”) FOR THE REMAINING ORDINARY SHARES OF RM1.00 EACH IN CELCOM NOT HELD BY TESB AND THE PAC AFTER THE PROPOSED DISPOSAL AT RM2.75 PER SHARE (“MGO”)

Contents :

    We refer to our announcements on 31 March 2003 and 3 April 2003.

    On behalf of TM, Commerce International Merchant Bankers Berhad is pleased to announce that the Proposed Disposal has been completed today.

    As a result of the above, TM’s direct and indirect interests in Celcom now comprise 1,255,368,198 ordinary shares of RM1.00 each in Celcom representing 47.93% of the enlarged issued and paid-up share capital of Celcom. In addition, pursuant to the completion of the Proposed Disposal, TM Cellular has ceased to be a subsidiary of TM.

    The change in status of TM Cellular is, however, expected to be temporary in nature pending the completion of the MGO.

    This announcement is dated 17 April 2003.

Announcement Info

Company Name TELEKOM MALAYSIA BERHAD
Stock Name TELEKOM
Date Announced 17 Apr 2003
Category General Announcement
Reference No MM-030417-56221