Reference is made to our announcement dated 5 September 2017 in relation to the incorporation of a new wholly-owned subsidiary, Albany Creek Capital Pty Ltd (“ACC”) by Multiple Capital Pty Ltd (“MCPL”), a 80% owned subsidiary of Mulpha Finance Holdings Pty Ltd, which in turn is a wholly-owned subsidiary of Mulpha Australia Limited, which in turn is a wholly-owned subsidiary of MIB.

We wish to announce that pursuant to Chapter 9, Paragraph 9.19(24) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, MCPL had on 28 September 2017, disposed of its 100% equity interest in ACC, comprising 3 ordinary shares to the following parties for a total cash consideration of A$3.00 (equivalent to approximately RM10.00) (“Disposal”), with details as set out in the Table below:-

MIB was notified of the Disposal on 16 October 2017.  As a result of the Disposal, ACC has ceased to be a wholly-owned subsidiary of MCPL and has become a 33.33% owned associate of Mulpha Finance Holdings Pty Ltd on 28 September 2017. 

The Disposal does not have any material effect on the earnings per share and net assets per share of MIB Group, and it has no effect on the share capital and substantial shareholders’ shareholdings of MIB.

The Disposal does not require approval from the shareholders of MIB or any government authorities.

Mr Simon James Tozer and Mr Dean Ronald Lear are Directors of MCPL and ACC.  Both of them also have deemed interests in MCPL. They do not have any shareholding in MIB.  Save as disclosed herein, none of the directors or major shareholders of MIB or persons connected with them has any interest, direct or indirect in the Disposal.

This announcement is dated 17 October 2017.