7/14/22, 6:52 PM

Asset Acquisitions and Disposals::Unconditional voluntary take-over offer for Cycle & Carriage Bintang Berhad shares

ASSET ACQUISITIONS AND DISPOSALS::UNCONDITIONAL VOLUNTARY TAKE-OVER OFFER FOR CYCLE & CARRIAGE BINTANG BERHAD SHARES

Issuer & Securities

Issuer/ Manager

JARDINE CYCLE & CARRIAGE LIMITED

Securities

JARDINE CYCLE & CARRIAGE LTD - SG1B51001017 - C07

Stapled Security

No

Announcement Details

Announcement Title

Asset Acquisitions and Disposals

Date &Time of Broadcast

14-Jul-2022 18:51:38

Status

New

Announcement Sub Title

Unconditional voluntary take-over offer for Cycle & Carriage Bintang Berhad shares

Announcement Reference

SG220714OTHRXLST

Submitted By (Co./ Ind. Name)

Jeffery Tan Eng Heong

Designation

Company Secretary

Description (Please provide a detailed description of the event in the box below)

Jardine Cycle & Carriage Limited ("JC&C") wishes to announce that it has submitted a notice of unconditional voluntary take-over offer ("Offer") to the board of directors of Cycle & Carriage Bintang Berhad ("CCB").

JC&C currently holds approximately 89.994% of the issued share capital of CCB, which is listed on the Main Market of Bursa Malaysia Securities Berhad ("Bursa Securities"). CCB's principal activities are the retail of vehicles and provision of after-sales services. It is one of the leading Mercedes-Benz dealers in Malaysia with a network of 11 outlets in Malaysia.

Under the terms of the Offer, JC&C will seek to acquire all the remaining ordinary shares of CCB not already held by it ("Offer Shares") at a consideration of RM2.70 per Offer Share. In the event of the Offer

7/14/22, 6:52 PM

Asset Acquisitions and Disposals::Unconditional voluntary take-over offer for Cycle & Carriage Bintang Berhad shares

being fully accepted, the total consideration for the Offer Shares will be approximately RM27.2 million (approximately USD6.1 million). As at 13 July 2022, the closing market price of a CCB share on Bursa Securities was RM2.60.

The Offer is not conditional upon the receipt of any minimum level of valid acceptances.

The Offer will be funded through internal resources and/or external borrowings. The Offer is not expected to have a material impact on the JC&C Group's net tangible assets or earnings per share. Had the Offer taken place on 1 January 2021, it would not have had a material impact on the JC&C Group's earnings per share for the fnancial year ended 31 December 2021, and had the Offer taken place on 31 December 2021, it would not have had a material impact on the JC&C Group's net tangible assets per share for the fnancial year ended 31 December 2021.

None of the Directors or controlling shareholders of JC&C has any interest, direct or indirect, in the Offer (save through their shareholding interests, if any, in JC&C or directorship in CCB).

For further information, please contact:

Jardine Cycle & Carriage Limited

Stephen Gore Tel: +65 6470 7300

Joey Ho Tel: +65 9765 0717

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Disclaimer

Jardine Cycle & Carriage Ltd. published this content on 14 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 July 2022 11:13:10 UTC.