News

On behalf of the Board of Directors of QL ("Board"), RHB Investment Bank Berhad ("RHB") wishes to announce that the Company proposes to undertake the following:- 

(i)  the proposed bonus issue of 249,605,886 new ordinary shares of RM0.25 each in QL ("QL Share(s)" or "Share(s)") ("Bonus Share(s)") on the basis of three (3) Bonus Shares for every ten (10) existing QL Shares held on an entitlement date to be determined later ("Entitlement Date") ("Proposed Bonus Issue"); 

(ii) the proposed renounceable rights issue of 166,403,924 QL Shares ("Rights Share(s)") on the basis of two (2) Rights Shares for every ten (10) existing QL Shares held on the Entitlement Date ("Proposed Rights Issue"); and 

(iii) the proposed exemption under Paragraph 16.1 of Practice Note 9 of the Malaysian Code on Take-Overs and Mergers 2010 ("Code") to exempt CBG Holdings Sdn Bhd ("CBG") and its parties acting in concert with CBG ("PAC(s)") from the obligation of extending a mandatory take-over offer for the remaining QL Shares not already held by them pursuant to the Proposed Rights Issue ("Proposed Exemption").

Details of the Proposals are set out in the attachment enclosed. 

This announcement is dated 3 October 2013.