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Completion Of Settlement Payment Arrangement Between The Government Of The Republic Of Ghana And Telekom Malaysia Berhad

20 April 2007

Type

 Announcement
Subject COMPLETION OF SETTLEMENT PAYMENT ARRANGEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF GHANA AND TELEKOM MALAYSIA BERHAD

Contents :

We refer to the announcement dated 12 August 2005 by Telekom Malaysia Berhad ("TM") on the above matter, and are pleased to announce that pursuant to the Settlement Agreement dated 7 May 2005, the Government of Ghana has fully paid the settlement sum due and payable to TM in accordance with the terms of the Settlement Documents executed by the parties involved.


With the completion of the settlement payment by the Government of Ghana and the fulfillment of other applicable conditions, the ownership of 30% shares in Ghana Telecommunications Company Limited (“GT”) will be transferred to the Government of Ghana in accordance with the terms of the Settlement Agreement.

The 30% shares in GT are currently held by G-Com Limited, TM’s international subsidiary in Ghana whilst the Government of Ghana holds the remaining 70% shares in GT.

Announcement Info

Company Name TELEKOM MALAYSIA BERHAD
Stock Name TM
Date Announced 20 Apr 2007
Category General Announcement
Reference No TM-070419-69042