CESSATION OF MALAKOFF JORDAN GENERATION LIMITED (NOW KNOWN AS ACWA POWER JORDAN GENERATION LIMITED) AS A SUBSIDIARY OF MALAKOFF INTERNATIONAL LIMITED, A WHOLLY-OWNED SUBSIDIARY OF MALAKOFF CORPORATION BERHAD, WHICH IN TURN IS A 51%-OWNED SUBSIDIARY OF MMC
30 Mar 2012
MMC wishes to announce pursuant to Chapter 9.19 (24) and Chapter 10.05 (2) of Bursa Malaysia Securities Berhad’s Main Market Listing Requirements that Malakoff Jordan Generation Limited (now known as ACWA Power Jordan Generation Limited) (“MJGL”) has ceased to be a subsidiary of Malakoff International Limited (“MIL), following the completion of MIL’s disposal of its entire equity interest in MJGL comprising 2 ordinary shares of USD1.00 each (“Disposal”). The Disposal to ACWA Power Jordan Holdings Limited for a consideration of Ringgit Malaysia equivalent to RM76 million, includes associated shareholders’ loans.
MIL is a wholly-owned subsidiary of Malakoff Corporation Berhad (“MCB”), which in turn is a 51%-owned subsidiary of MMC.
MJGL held 25% equity interest in Enara Energy Investments PSC which in turn holds 51% equity interest in Central Electricity Generating Company.
The Disposal does not have a material effect on the earnings or net assets of MMC Group for the financial year ending 31 December 2012.
None of the Directors or substantial shareholders of MMC or persons connected to them has any interest, direct or indirect, in the Disposal.
This announcement is dated 30 March 2012.
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