Reference is made to our announcement dated 10 January 2018 in relation to the incorporation of a new wholly-owned subsidiary, Mulpha Finance SPV 1 Pty Ltd (now known as Hay Street Capital Pty Ltd) (“HSC”) by Mulpha Finance Holdings Pty Ltd (“MFH”), 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, MFH has on 22 January 2018, disposed of its 81% equity interest in HSC, comprising 162 ordinary shares to the following parties for a total cash consideration of A$1.62 (equivalent to approximately RM5.10) (“Disposal”), with details as set out in the Table below:-

As a result of the Disposal, MFH’s shareholding in HSC has reduced from 100% to 19% and consequently HSC has ceased to be a wholly-owned subsidiary of MFH.

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.

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 23 January 2018.